OPEC Plans to Increase Exports on Rising Demand in Asia

Bloomberg reported that according to Oil Movements, the Organization of Petroleum Exporting Countries (OPEC) will increase shipments by 60,000 bpd until mid-May due to a rising demand in Asia.

As quoted in the market news:

The group that supplies about 40 percent of the world’s oil will boost exports by 0.3 percent to 23.61 million barrels a day in the four weeks to May 11, the researcher said today in an e- mailed report. The figures exclude Angola and Ecuador.

Click here to read the full Bloomberg report.