By RUPERT ROWLING
The Organization of Petroleum Exporting Countries will
increase crude shipments by 1% next month as they maximize
flows before refineries are shut for maintenance, according to tanker
tracker Oil Movements.
OPEC, which supplies about 40% of the worlds oil, will
raise exports by 230,000 bpd to about 23.9 million bpd in
the four weeks to Oct. 12 compared with the period to Sept. 14,
the researcher said Friday in a report. The figures
exclude two of OPECs 12 members, Angola and
Its what youd expect to happen at this time
of year as we start to get into refinery maintenance season, Roy Mason,
the companys founder, said by phone from Halifax,
England. Its boring old seasonality and exports are
likely to drift downward until the end of October or start of
Refiners typically trim imports at the end of the third quarter
while performing maintenance as summer demand in the
northern hemisphere for gasoline and diesel dwindles.
Middle Eastern shipments will climb 2.4% to 17.72 million bpd
to Oct. 12, compared with 17.31 million bpd in the month
to Sept. 14, according to Oil Movements. Those figures include
non-OPEC nations Oman and Yemen.
Crude on board tankers will increase 0.7% to 483.79 million bbl
on Oct. 12, data from Oil Movements show. The researcher
calculates volumes by tallying tanker bookings, and excludes
crude held on vessels for storage.
OPECs members are Algeria, Angola, Ecuador, Iran, Iraq,
Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab
Emirates and Venezuela. It will next meet in Vienna on Dec.