The Organization of Petroleum Exporting Countries will reduce shipments through to early September as summer demand for driving fuels ebbs, tanker-tracker Oil Movements said.
The group, which supplies about 40 percent of the world’s oil, will cut exports by 320,000 barrels a day, or 1.3 percent, to about 23.6 million barrels a day in the four weeks to Sept. 7 from the period to Aug. 10, the researcher said today in an e-mailed report. The figures exclude two of OPEC’s 12 members, Angola and Ecuador...............................................Full Article: Source
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