OPEC exports to jump 540,000 bpd to Oct.11 – analyst

LONDON (Reuters) – OPEC oil exports, excluding Angola and Ecuador, will jump by 540,000 barrels per day (bpd) in the four weeks to Oct. 11, on strong Asian demand and seasonal factors, an analyst who tracks future flows said on Thursday.

Seaborne crude exports from 11 OPEC members, including Iraq, will leap to 24.75 million bpd from 24.21 million bpd in the period to Sept. 13, British consultancy Oil Movements reported.


The head of the consultancy, Roy Mason, said there was no evidence in the latest figures that OPEC had reined in output to comply with a Sept. 10 decision to trim output back to official targets.

“Everything is going East and it’s a much bigger increase than we would expect at this time of year. The rise to Asia is at a record high for September,” he said.

Reuters