OPEC to Reduce Exports as Winter Demand Ebbs, Oil Movements Says
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The Organization of Petroleum Exporting Countries will reduce oil shipments this month as demand for winter fuels in the northern hemisphere fades, according to tanker-tracker Oil Movements.
Loadings will slip to 23.79 million barrels a day in the four weeks to Feb. 26, down 0.6 percent from 23.94 million barrels a day in the period to Jan. 29, the tanker-tracker said today in a report. The data exclude Angola and Ecuador. It’s the first monthly decrease since the four weeks to Feb. 5.