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Shipments will rise to 23.65 million barrels a day in the four weeks to Dec. 4, compared with 23.38 million barrels in the period to Nov. 6, the consultant said today in a report. The data exclude Ecuador and Angola. It’s the sixth consecutive month-on-month increase, according to the weekly reports.
“Everything is going east,” Oil Movements founder Roy Mason said by phone from Halifax, England. “China is obviously a big part of it, but the whole region is going up. Japan is limping but still moving up seasonally.”
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Source: Bloomberg
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