OPEC to Cut Supplies By Most Since August, Oil Movements Says
This article is for subscribers only.
The Organization of Petroleum Exporting Countries reduce supplies this month by the most since August as demand for winter fuels in the northern hemisphere passes its peak, according to tanker-tracker Oil Movements.
Shipments will drop 1.3 percent to 23.6 million barrels a day in the four weeks to Jan. 22 from 23.91 million barrels in the period to Dec. 25, Oil Movements said today in a report. It’s the biggest decline since a 1.8 percent fall during the four weeks to Aug. 28. The data exclude Ecuador and Angola.