OPEC exports down 100,000 bpd 4 wks to Mar 23

LONDON (Reuters) – OPEC seaborne oil exports, excluding Angola and Ecuador, fell 100,000 barrels per day (bpd) in the four weeks to March 23, mostly on slippage from Gulf producers, data released by Lloyd’s Marine Intelligence Unit showed on Monday.

LMIU said shipments from 11 OPEC producers, including Iraq, fell to an average of 22.104 million bpd in the peroid, versus 22.201 in the previous four weeks to Feb. 25.


“Exports are trending downwards, with Gulf shipments clearly falling in the period. Volumes are cyclically lower,” an LMIU analyst said.

He said that refinery maintenance in the first and early into the second quarter was likely affecting flows as demand slows.

Reuters