Oil Movements Says OPEC to Cut Output by End of This Month
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Research company Oil Movements is saying OPEC will, by the end of the month, cut its production of oil -- the first time in seven weeks.
Oil movements sees oil shipments out of the Middle East falling about 1.2 percent to 17.56 million barrels per day, while exports will fall to 22.81 million barrels per day.
The US Oil Fund ETF (NYSE: USO) is down 0.5 percent at last check.
Oil movements sees oil shipments out of the Middle East falling about 1.2 percent to 17.56 million barrels per day, while exports will fall to 22.81 million barrels per day.
The US Oil Fund ETF (NYSE: USO) is down 0.5 percent at last check.
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