Brent Oil Fund Faces Supply Tightening from 7.8M-Barrel Venezuelan Delay and Kazakh Disruptions

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Venezuelan oil exports under a $2 billion U.S. supply deal have reached just 7.8 million barrels, delaying PDVSA’s output recovery. Kazakhstan’s Tengiz field declared force majeure after a fire, while the Kashagan field diverted crude to its domestic market due to CPC Black Sea export bottlenecks.

Sources

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