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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Venezuela's oil exports rose in March to the highest monthly average since August, boosted by a resumption of loadings after an export freeze and by rising cargoes assigned to Chevron according to documents and shipping data.
- PDVSA and its joint ventures in March shipped a total of 774,420bpd of crude and fuel, mainly to China, a rebound from the low figures registered in the two previous months, the documents and data showed.
- Chevron received from PDVSA and exported about 115kbpd of Venezuelan heavy crude to the US, up by around 80kbpd from Feb.
- A total of eight very large crude carriers (VLCC) set sail from Venezuelan ports, which eased a tanker bottleneck that had built up since early 2023.
- The uptick was partially because PDVSA has reinstated two export contracts after a January freeze. It reinstated a medium-term contract with Hangzhou Energy, and another with Portugal-based Adinius Sociedade de Servicios.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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