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Thursday, 15 December 2016

OPEC supply still opaque despite more data: Petro-Logistics | Reuters

OPEC supply still opaque despite more data: Petro-Logistics | Reuters:
"OPEC's first supply cut deal in eight years came as good news for a Swiss family business founded by an economics analyst who once helped the then Rhodesian government procure oil supplies in the face of sanctions.

Geneva-based Petro-Logistics earns money from the lack of timely and complete information from OPEC members and other oil exporters like Russia in the 95 million barrels-per-day global market, by tracking shipments to estimate production and supply.

The Organization of the Petroleum Exporting Countries is planning to cut its output by 1.2 million bpd from Jan. 1, its first such deal since 2008. Russia and other non-members are planning to cut about half as much."

'via Blog this'