OPEC to Boost Exports as IEA Release Ends, Oil Movements Says
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The Organization of Petroleum Exporting Countries will raise crude shipments through Sept. 17 as consuming nations end a program of supply releases to make up for lost Libyan exports, according to Oil Movements.
Exports will rise 0.2 percent to 22.59 million barrels a day in the four-week period, the Halifax, England-based tanker-tracker said today in a report. That compares with 22.54 million a day in the month to Aug. 20. Shipments typically decline at this time of year as refiners undertake seasonal maintenance. The figures exclude Ecuador and Angola.