OPEC will cut oil shipments through to the middle of July as Asian refiners reduce imports while conducting seasonal maintenance work, according to tanker-tracker Oil Movements.
The Organization of Petroleum Exporting Countries will ship 22.7 million barrels a day in the four weeks to July 16, down 0.7 percent from the period to June 18, the consultant said in a report. The data, which excludes Ecuador and Angola, does not reflect any change in OPEC output in response to the International Energy Agency’s release of emergency stockpiles, Oil Movements said.
