Venezuela loaded 1.114 mln b/d of crude in August, up 28% month-on-month,
according to shipping reports, Kpler Ltd and vessel-tracking data. Exports
reversed a five-month low in July as shipments to India more than doubled.
Indian refiners reduced purchases from Russia after Ukraine-related supply
disruptions, raising demand for Venezuelan crude, while the Trump administration
is seeking tighter control over Venezuela's oil sector, posing regulatory risk
to flows.