Shipping data show Venezuela's oil exports fell to 1.08 mln b/d in September
from 1.19 mln b/d in August, a roughly 9% m/m decline. Rising freight pushed
traders to seek larger price discounts from state oil company PDVSA to offset
higher transport costs. By destination, shipments to the US rose to 629k b/d
(from 553k b/d in August), while exports to India and Europe fell to 253k b/d
and 86k b/d respectively.