Venezuela’s oil exports experienced an 8 % drop at the end of January, as reported by Reuters, as a result of contract reviews requested by the new PDVSA president, Pedro Tellechea.

The new manager ordered in January to suspend “most export contracts for crude oil and refined products to submit them to audits, a measure to prevent ships from setting sail before completing payments for shipments.”

The measure caused serious delays in cargoes, which extend to filling in ports, in addition to reducing the list of authorized clients to a minimum of participants in “oil swaps and debt payment agreements with Venezuela.” The list includes Cubametales, Naftiran Intertrade Company of Iran and the oil companies Chevron and Eni, of Italy.”

Exports in February of the Venezuelan state PDVSA and its affiliates were estimated at 555,250 bpd of crude and fuel, destined mainly for China (70 %). Which reveals a drop of 8 % compared to January, in addition to being the lowest since mid-2022.

M.Pino

Source: finanzasdigital

(Reference image source: Worksite Ltd., Unsplash)

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The Consumer Price Index (CPI) of Ecuador fell to 3.12 % year-on-year in January, which represents a drop of six tenths compared to the December figure, when it stood at 3.74 %.

Such a low figure has not been given since last April, when inflation in Ecuador was below 3 % (2.9 %). Unlike other Latin American countries, the CPI in Ecuador has remained at relatively low levels, reaching its peak in June, when it climbed to 4.2 % year-on-year.

In turn, according to the figures released this Tuesday by the National Institute of Statistics and Censuses (INEC), monthly inflation was 0.12 %, with hardly any variations compared to the December data of 0.16 %.

Of the twelve consumer divisions, only four of them experienced a monthly drop, while the other eight had an upward trend. The three that experienced the greatest increase were furniture, articles for the home and for ordinary household maintenance (0.09 %), restaurants and hotels (0.02 %), and food and non-alcoholic beverages (0.01 %).

Source: dpa

(Reference image source: dpa, Europa Press)

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