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Venezuelan September Crude Exports Rose 6.3% MoM

OIL

Venezuelan crude oil exports rebounded in September to around 572kbpd, up by 6.3% on the month and by 20% up on the year, according to loading program and ship movements tracked by Bloomberg.

  • PDVSA tapped inventories amid a temporary outage at one of its oil-producing units, which led to a decline of inventories at the main terminal of Jose to 6.1mn barrels as of 29 September, the lowest level since June.
  • The PetroSinovensa oil venture halted operations at one of its two plants on 9-13 September because of a shortage of lights oils, an internal report seen by Bloomberg showed.
  • Chevron’s exports to the US fell by 9kbpd month on month to 160kbpd.
  • Exports to China rose by 46kbpd to 353kbpd, the highest level since June.

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