OPEC to Raise Shipments 1.2% This Month on Asia Demand, Oil Movements Says

he Organization of Petroleum Exporting Countries will increase crude loadings by 1.2 percent this month on rising exports to Asia, according to tanker- tracker Oil Movements.
Shipments will rise to 23.65 million barrels a day in the four weeks to Dec. 4, compared with 23.38 million barrels in the period to Nov. 6, the consultant said today in a report. The data exclude Ecuador and Angola. It’s the sixth consecutive month-on-month increase, according to the weekly reports.
“Everything is going east,” Oil Movements founder Roy Mason said by phone from Halifax, England. “China is obviously a big part of it, but the whole region is going up. Japan is limping but still moving up seasonally.”
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Source: Bloomberg