OPEC to Cut Exports on Refinery Maintenance, Oil Movements Says
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The Organization of Petroleum Exporting Countries will cut exports through to March 19 as refiners idle units while conducting seasonal maintenance, according to tanker-tracker Oil Movements.
The drop is unrelated to any disruption in supplies from Libya, the Halifax, England-based company said. Loadings will slip to 23.63 million barrels a day in the four weeks to March 19, down 1.1 percent from 23.9 million a day in the equivalent period to Feb. 19, the company said today in a report. The data exclude Angola and Ecuador.