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OPEC to increase oil shipments to meet winter demand

OPEC to increase oil shipments to meet winter demand

The Organization of Petroleum Exporting Countries (OPEC) will increase shipments of crude oil this month to meet winter demand for heating fuels, according to tanker-tracker Oil Movements.

OPEC will ship 23.64 million barrels a day in the four weeks to Jan 21, up 0.3 percent from the 23.58 million barrels loaded daily in the month to Dec 24, the Halifax, England-based researcher said in an e-mailed report. The figures exclude Angola and Ecuador.

Exports from Middle Eastern producers, including non-OPEC members Oman and Yemen, will be little changed at 17.87 million barrels a day, according to estimates from Oil Movements.

OPEC’s 12 members, which pump 40 percent of the world’s oil, are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

(Bloomberg)


Updated : 2021-04-19 21:18 GMT+08:00