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.

2026-10-02

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.