Spot Cargo Markets - Opec Cuts Start to Bite

摘要

Oil prices are up by more than a fifth since late December as Opec production cuts begin to bite. Key Saudi Arabian oil exports are expected to drop to 7.2 million barrels per day in January and to 7.1 million b/d in February after hit- ting a record 8 million b/d in November, Saudi Energy Minister Khalid al-Falih said at a press conference in Riyadh on Wednesday. “We are serious about restoring balance to the market,” al-Falih said.