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OPEC exports to fall 250,000 barrels per day in September

opec saudi viena

Seaborne oil exports from OPEC, excluding Angola and Ecuador, will fall by 250,000 barrels per day (bpd) in the four weeks to Sept. 1, an analyst who estimates future shipments said on Thursday.


August 19, 2012 7:58 by

Exports will reach 23.88 million bpd on average, compared with 24.13 million bpd in the four weeks to Aug. 4, UK consultancy Oil Movements said in its latest weekly estimate.


The Organization of the Petroleum Exporting Countries pumps more than a third of the world’s oil. OPEC left oil output limits on hold at its last meeting, held in June.


OPEC’s production declined in July as U.S. and European sanctions cut supply from Iran and top exporter Saudi Arabia reduced supplies. (Reporting by Alex Lawler; Editing by Anthony Barker)


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