According to Dow Jones January 18, shipping tracking company Kpler said OPEC crude oil exports have risen sharply to 2,050,000 barrel per day in the first two weeks of 2018, It’s the first time to over 200 million barrels a day since early November last year.
Mainly due to increases in supplies from Iraq and Nigeria, underscoring the challenges OPEC faces in maintaining a high compliance rate of cut quotas. Kpler said that in the first two weeks of 2018, OPEC countries exported a total of 26.9 million barrels of oil per day, up 2.28 million barrels per day from the four-week average starting December 4, 2017. In the two weeks to 2018, crude oil exports from southern Iraq's ports increased by 225,000 barrel per day partly due to the Iraqi refinery entering the season of repairs and Iraqi efforts to make up for the losses. Nigeria's crude oil exports increased by 268,000 barrels.
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