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US gets fewest oil cargoes from Opec in 5 yrs as production decline begins

Saudi Arabia, the biggest producer in the Opec Countries, and several others curbed supplies in the face of rising US production and inventories

Reuters  |  Houston 

OPEC crude cargoes leaving for the United States in December dropped to the lowest level in at least five years, data from Refinitiv Eikon and market intelligence firm Kpler show. Oil cargoes departing from OPEC nations to the United States fell to 1.63 million barrels per day (bpd) last month, down from 1.80 million bpd in November and 1.78 million bpd in October, the data show. Saudi Arabia, the biggest producer in the Organization of the Petroleum Exporting Countries, and several others curbed supplies in the face of rising US production and inventories, analysts ...

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First Published: Fri, January 04 2019. 00:29 IST
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