26 April 2019

OPEC to boost shipments on Chinese demand, Bloomberg says

The Organization of Petroleum Exporting Countries (OPEC) will increase shipments through late October as refiners in China resume operations after seasonal maintenance, Bloomberg News reported Thursday, citing tanker tracker Oil Movements. OPEC, which supplies about 40 percent of the world’s oil, will raise exports by 100,000 barrels a day, or 0.4 percent, to 23.97 million a day in the four weeks to Oct. 19 compared with 23.87 million a day in the period to Sept. 21, a researcher from Oil Movements was quoted as saying in a report. The figures exclude two of OPEC’s 12 members, Angola and Ecuador.

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