By GRANT SMITH and RUPERT ROWLING
The Organization of Petroleum Exporting Countries will raise
crude shipments through to early December as demand for
heating fuel increases with the onset of winter in the
northern hemisphere, according to tanker tracker Oil
OPEC, which supplies about 40% of the worlds oil, will
bolster sailings by 400,000 bpd, or 1.7%, to 23.93 million
bbl in the four weeks to Dec. 7, the researcher said Thursday
in a report.
That compares with 23.53 million in the period to Nov. 9. The
figures exclude two of OPECs 12 members, Angola and
rates are rising again,
so that will pull up crude demand, Roy Mason, the
companys founder, said by phone from Halifax, England.
Middle Eastern exports will advance 2.2% to 17.57 million bpd
in the month to Dec. 7, versus 17.19 million in the previous
period, according to Oil Movements. Those figures
include non-OPEC nations Oman and Yemen.
Crude on board tankers will increase by 1% on Dec. 7 to
484.88 million bbl from 480.1 million four weeks prior, 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.