London (Platts)--26Mar2009
OPEC crude exports, excluding Angola and Ecuador, are set to fall to
22.23 million b/d in the four weeks ending April 11, down 770,000 b/d from the
previous four-week period, UK-based tanker tracker Oil Movements said
Thursday.
The estimate shows continued efforts by OPEC to slash supply as it
complies with its formal agreements made last year to cut crude production by
a combined 4.2 million b/d.
At a meeting in Vienna March 15, OPEC ministers agreed to improve
compliance with the existing agreements -- widely estimated at around 80% in
February -- rather than make an additional cut in supply.
The tanker tracker's latest estimate for the four weeks ending April 11
also shows a decline in OPEC exports of 2.08 million b/d compared with the
same period of 2008.
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