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OPEC+ Export Levels Stable in April: Kpler

OIL

OPEC+ seaborne oil exports variation in April (kbd) m-o-m – source: Kpler

  • OPEC+ export trends have not helped support prices in April, as their total level remained stable near 28 Mbd when excluding Iran and Venezuela.
  • Higher exports from Saudi Arabia and Russia offset declines from Nigeria, Iraq and Kazakhstan, while the group’s crude inventories remained stable at 259 Mbbls.
  • OPEC+ seaborne oil exports finished just under 28.0 Mbd through April, up by a mere five kbd m/m when excluding Iran and Venezuela.

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