OPEC to Cut Exports as Asian Demand Declines, Oil Movements Says
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OPEC will cut exports from near their highest in a year because of lower demand from refiners in Asia as the northern hemisphere winter nears its end, according to tanker-tracker Oil Movements.
The Organization of Petroleum Exporting Countries will ship 23.35 million barrels a day in the four weeks to Feb. 4, 0.5 percent less than the 23.47 million transported in the period to Jan. 7, the Halifax, England-based researcher said today in an e-mailed report. The figures exclude Angola and Ecuador.