Russia’s crude oil and condensate exports have declined slightly since 2022, but the bigger shift has come in where those barrels are going, according to new analysis released by the U.S. Energy Information Administration (EIA) on Aug. 7.
Brazil has become the latest target of U.S. President Donald Trump’s ire after the Republican frontrunner threatened 50% tariffs on the South American giant for allegedly persecuting right-wing ex-president Jair Bolsonaro. In a post on Truth Social, Trump called on Brazilian President Luiz Inácio Lula da Silva to halt what he described as a “Witch Hunt that should end IMMEDIATELY!” Bolsonaro is currently on trial for allegedly attempting to overturn the results of the 2022 election.
Venezuela saw its oil exports slump by nearly 20% in April from March to the lowest level in nine months, after state-owned oil firm PDVSA canceled cargoes for Chevron, Reuters reported on Thursday, citing shipping documents and tanker-tracking data.
Saudi Arabia’s crude oil exports increased by 170,000 barrels per day (bpd) to 5.75 million bpd in September, data from the Joint Organizations Data Initiative (JODI) showed on Thursday.
Libya’s oil production has recovered in recent days after the country resumed oil exports last week.