Oil shipments from the Organization of the Petroleum Exporting Countries are to increase by 640,000 barrels a day in the four weeks to Nov. 24, compared with the previous four-week period, U.K.-based tanker tracker, Oil Movements said Thursday.
The figure, which excludes exports from Angola and Ecuador, reflects a seasonal uptick in oil demand ahead of winter, notably in the West, said Roy Mason, head of Oil Movements.
– Benoit Faucon, (c) 2012 Dow Jones & Company
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The International Energy Agency has again cut its outlook for global oil supply and demand as renewed fighting around the Strait of Hormuz disrupts Gulf exports, drains inventories and pushes...
Oil production in Brazil reached a record high in June as rising supplies from producers a world away from the Middle East cushion disruption from the fallout of the war in Iran.
The world may need to find a way to get by on less oil and gas if the Strait of Hormuz remains closed much longer dueto the U.S.-Israeli war on Iran, Dallas Federal Reserve President Lorie Logan said on Wednesday.
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