Venezuela's oil exports fell nearly 9% in September to 1.08 million barrels per day as rising tanker costs, rerouted vessels and port congestion delayed cargoes and prompted traders to seek larger discounts from PDVSA. Vitol and Trafigura were among the trading houses pressing for improved terms. U.S. shipments increased to 629,000 bpd from 553,000 bpd in August, while deliveries to India declined to 253,000 bpd from 297,000 bpd and European purchases dropped to 86,000 bpd from 260,000 bpd. Chevron shipped about 283,000 bpd, roughly unchanged from August, while trading firms handled 637,000 bpd, up from 597,000 bpd. Venezuela produced about 1.2 million bpd in August, based on figures reported to OPEC, and crude inventories at the Jose export terminal fell only modestly from higher levels earlier this year. More than 250 companies were in Caracas during the week to assess the country's next oil-development round. Chevron has pledged more than $7 billion over five years and aims to more than double Venezuelan output to roughly 600,000 bpd. Eni, GeoPark and Continental Resources are also pursuing projects. Rystad Energy estimates production could reach 1.6 million bpd by 2028 and 1.8 million bpd by 2030, but the country would need about 50 active drilling rigs by 2028 and nearly 80 by 2030, compared with just two in August. The expansion would also face continuing freight costs and export-system congestion.