Algeria’s crude exports reach 26-month high in October

Oil

Shipments of Algeria’s Saharan Blend crude oil increased by 30% (or 130K b/d) m-o-m to 580K b/d in October, rising to the highest level since August 2019, Argus reports. Exports to northwest Europe and the Mediterranean jumped by 58% (or 340K b/d) m-o-m to 540K b/d, the highest since May 2015, supported by increased demand for naphtha-rich crudes such as Saharan Blend.