Opec oil exports to fall in 4 weeks to July 7
London, June 23, 2012
Seaborne oil exports from Organization of the Petroleum Exporting Countries (Opec), excluding Angola and Ecuador, will fall by 20,000 barrels per day (bpd) in the four weeks to July 7, said an analyst.
Exports will reach 23.92 million bpd on average, compared with 23.94 million bpd in the four weeks to June 9, UK consultancy Oil Movements said in its latest weekly shipments estimate said on Thursday.
The Opec pumps more than a third of the world's oil.
The organisation prepared to keep oil output limits on hold last week, powerless to do anything other than leave lead Saudi to decide whether to scale back supplies to stem a slide in prices below $100 a barrel.-Reuters