OPEC Plans to Cut Crude Shipments Next Month on Refinery Works

Bloomberg reported that the Organization of Petroleum Exporting Countries will trim crude shipments by 0.5% a day which means a reduction of 120,000 bpd as global refinery maintenance peaks.

As quoted in the market news:

Refiner crude demand is lower right now,” Roy Mason, the company’s founder, said by phone from Halifax, England. “It reaches a seasonal low in April.

Click here to read the full Bloomberg report.