Crude Shipments and LNG Exports Take Hit Amid Steady Oil Markets

Crude shipments through Bab el-Mandeb have taken a significant hit in August, sparking questions about the oil market's steady performance. Energy economist and market analyst Anas Alhajji is examining why this decline occurred with limited reaction from oil markets.

Alhajji also highlights that Russia's LNG exports have dropped to their lowest level since 2021, raising the possibility of the EU delaying its ban on Russian gas. Additionally, he notes that OPEC+ has lost significant market share.

In a previous analysis, Alhajji flagged Citgo's record ULSD exports and Venezuelan crude imports as factors influencing a planned U.S. asset sale. He also highlighted the Carlyle Group's acquisition of SunPower Inc and the company's 62% share decline following the deal.