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Venezuela oil exports fall 9% in September as freight costs rise

Exports dropped to 1.08 million barrels per day in September, as higher tanker costs pushed traders to seek steeper discounts and delayed cargo departures.

Reported · Written up by our desk · Energy

Venezuela’s oil exports fell nearly 9% in September to 1.08 million barrels per day, according to OilPrice.

The outlet said soaring tanker freight costs forced traders to request steeper discounts and contributed to delays in cargoes leaving the country.

OilPrice also reported that global trading houses, including Vitol and Trafigura, pressed PDVSA for better terms as shipping costs cut into margins.

The article attributed some of the delays to tanker reroutings, adding to shipping disruptions already building over the prior period.

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