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Venezuela's oil exports decreased to 1.08 million barrels per day (bpd) in September from 1.19 million bpd in August, as traders sought price discounts from state-run PDVSA to compensate for increased freight costs, according to shipping data.
Venezuela's oil exports decreased to 1.08 million barrels per day (bpd) in September from 1.19 million bpd in August. This decline was attributed to pressure from traders seeking price discounts to offset higher freight rates.
Treasury Secretary Scott Bessent said Ukraine’s strikes on Russian energy assets and the Iran conflict are creating upward global price pressure during an energy shock.