Exports from Opec members hit two-year highs at the end of last year, according to cargo tracking firm ClipperData. Producing nations ramped up cargo volumes ahead of plans to cut global crude output this year.
Total Opec exports last year rose 7.5% to 24.2 million barrels per day. Director of research Matt Smith says the gain stemmed from Opec accelerating its exports from September through December just ahead of this year’s cuts.
