OPEC members cut oil supplies in early November

OPEC countries significantly reduced oil exports in November, the tanker tracking service Petro-Logistics reported. A decrease in supplies may indicate that the cartel members adhere to the supply reduction agreed within the framework of the OPEC+ deal.

“OPEC members significantly reduced oil exports in the first half of the month. At the same time, the volume of deliveries in the first days of November could be abnormally low,” said Daniel Gerber, CEO of Petro—Logistics.