Algeria Oil Shipments Hit 1-Year High

Observed crude and condensate exports from Algeria jumped to their highest level since October 2021, according to port lineup and tanker-tracking data compiled by Bloomberg. The increases were in flows to Europe and North America, where buyers have been seeking alternatives to shunned Russian barrels. Total observed shipments rose by about 67% to 560k b/d in October from 336k b/d in September.