OPEC Exports -120,000b/D in 4Wks to Jun 17-Oil Movements

Schlumberger – The Organization of Petroleum Exporting Countries’ seaborne crude oil exports are expected to drop by 120,000 barrels a day in the four weeks to June 17 compared with the previous four-week period, a leading tanker tracker said Thursday.

U.K.-based consultancy Oil Movements said the drop, to 24.75 million b/d from a revised 24.87 million b/d for the four weeks to June 10, showed that U.S. refineries were feeling comfortable with existing supplies.

“What had appeared to be a recovery heading into the third quarter has slowed down – it means the refineries aren’t uncomfortable and aren’t looking for more crude,” said Oil Movements head Roy Mason.
Schlumberger