Global crude exports saw a pause in declines during September, but the Atlantic Basin remains constrained due to reduced demand from East of Suez markets, particularly China.
While exports within the Atlantic Basin have found some support from European demand, overall supply dynamics are still affected by OPEC+ production cuts and shifting trade patterns. The situation highlights ongoing challenges in balancing supply and demand in the global oil market.
Citations:
[1] https://www.vortexa.com/insights/crude/atlantic-basin-crude-exports-experience-slowdown/
[2] https://www.lloydslist.com/LL1150386/Rising-Atlantic-crude-supply-challenges-Opec-plan-to-ease-cuts
[3] https://www.kpler.com/blog/oil-market-sentiment-weak-across-the-board
[4] https://www.world-grain.com/articles/20270-turkeys-wheat-stocks-to-fall-sharply
[5] https://www.hellenicshippingnews.com/turkey-halts-wheat-imports-until-october-to-protect-producers/
[6] https://www.graincentral.com/markets/turkiyes-wheat-import-ban-may-be-extended/
[7] https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Grain+and+Feed+Update_Ankara_Turkiye_TU2024-0032.pdf
[8] https://www.graincentral.com/news/ukraines-grain-output-exports-shows-strength/