OPEC to Raise Exports 0.7% on Winter Demand, Oil Movements Says
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The Organization of Petroleum Exporting Countries will increase crude loadings by 0.7 percent up to the middle of December, according to tanker-tracker Oil Movements, as winter demand peaks in the northern hemisphere.
Shipments will rise to 23.51 million barrels a day in the four weeks to Dec. 11 from 23.34 million barrels in the period to Nov. 13, the consultant said today in a report. It’s the seventh consecutive month-on-month increase, according to the weekly reports. The data exclude Ecuador and Angola.