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Latest News

OPEC exports to rise in 4 weeks to Nov 6 – analyst

OPEC agreed last week to keep the group's output target unchanged.

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October 22, 2010 9:02 by



Seaborne oil exports by OPEC, excluding Angola and Ecuador, will rise by 280,000 barrels per day (bpd) in the four weeks to Nov. 6, an analyst who estimates future shipments said on Thursday.

Exports from the group will rise to 23.33 million bpd on average from 23.05 million bpd in the four weeks to Oct. 9, UK consultancy Oil Movements said in its latest weekly estimate.

The Organization of the Petroleum Exporting Countries agreed last week to keep the group’s output target unchanged.

OPEC’s compliance with the 4.2 million bpd of promised cutbacks reached 57 percent last month, up 5 percentage points from August, according to Reuters estimates. It peaked at 81 percent in April and March 2009.

(Reporting by Jonathan Saul; Editing by Alison Birrane)



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