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Market Chatter: Venezuela Oil Shipments Slide as Iran Truce Dims India's Appetite for Barrels

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Oil exports from Venezuela dropped to a five-month low in July, sliding 25% from June to 856,000 barrels per day, as weaker demand from India coincided with a partial easing of Middle Eastern supply bottlenecks, Bloomberg reported on Monday, citing shipping data.

Venezuelan crude loadings dropped to a five-month low of about 856,000 b/d last month, down 25% from June.

Shipments to India fell by half last month following a pause in the Middle East conflict, which allowed trapped Persian Eastern crude barrels to re-enter global markets. Supply-chain adjustments and alternative shipping routes have increasingly mitigated initial disruptions to global energy flows as the conflict enters its sixth month.

PDVSA did not immediately respond to requests for comment by.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumors and speculation. Accuracy is not guaranteed.)

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