OPEC Exports to Rise on Saudi Arabia Supply, Oil Movements Says - Bloomberg

OPEC Exports to Rise on Saudi Arabia Supply, Oil Movements Says - Bloomberg:

"The Organization of Petroleum Exporting Countries will increase crude shipments by 1.4 percent through to early October as Saudi Arabia boosts output amid losses in Libya, tanker tracker Oil Movements said.
OPEC, which supplies about 40 percent of the world’s oil, will raise exports by 320,000 barrels a day to about 23.9 million a day in the four weeks to Oct. 5 compared with the period to Sept. 7, the researcher said in a report. The figures exclude two of OPEC’s 12 members, Angola and Ecuador, and may be revised lower to reflect recent disruptions in Libya production, according to Oil Movements.
“The Saudis are already ramping up to the high points of the year,” Roy Mason, the company’s founder, said by phone from Halifax, England. Shipments will decline in coming weeks as refiners conduct seasonal maintenance work, he said."

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