OPEC Exports Decline as Seasonal Demand Dips, Oil Movements Says
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The Organization of Petroleum Exporting Countries will reduce exports by 1.4 percent in the four weeks to May 7 in line with a seasonal lull in consumption, according to tanker-tracker Oil Movements.
OPEC, responsible for 40 percent of global supplies, will ship 22.67 million barrels a day in the four weeks to May 7, down from 23 million a day in the period to April 9, the consultant said today in a report. The decline is driven by Middle East members of the group, it said. The data exclude Ecuador and Angola.