OPEC Oil Shipments Fall 540,000 B/D In 4 Weeks To Dec 11
12:47 EST Thursday, November 25, 2004
LONDON -(Dow Jones)- Crude oil shipments from members of the Organization of Petroleum Exporting Countries fell by a hefty 540,000 barrels a day for the four-week period ending Dec. 11 compared with the previous four weeks, tanker- tracker Oil Movements said Thursday.
The drop brings the four-week rolling average of OPEC crude oil shipments down to 23.99 million b/d from 24.530 million b/d, Roy Mason, head of the consultancy said in his weekly report.
Mason had previously forecast December exports would be slower than November, despite spot chaterings typically being at their busiest in early December.
"The last count is lower than the last two years and below the most recent peak in early November," Mason said.
In last week's report, Mason said OPEC's exports had fallen by 240,000 b/d for the four week period ending Dec. 4. He said there was a significant fall in OPEC's eastbound oil shipments, especially from the Persian Gulf.
-By Sally Jones and Selina Williams, Dow Jones Newswires; +44-20-7842-9347; sally.jones@dowjones.com
Dow Jones Newswires
11-25-04 1247ET
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