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Venezuelan Crude Exports Flat m/m in June

OIL

Venezuelan oil exports were flat in June m/m at 760,000 bpd with U.S. special licenses supporting around half the volumes to head to the U.S. and Europe according to LSEG data.

  • A total of 44 tankers departed from Venezuelan waters last month, carrying an average 762,033 bpd of crude and fuel and 350,000 metric tons of oil byproducts and petrochemicals.
  • In May, the country exported 770,260 bpd of crude and fuel and 614,000 tons of byproducts and petrochemicals.
  • Asia was a top destination for Venezuela's oil exports in June, pulling in 330,000 bpd.
  • Venezuela wants to increase oil output to 1.23 million bpd by the end of the year, from 876,000 bpd so far this year.
  • The U.S. reimposed oil sanctions on Maduros government April 18 for failing to adhere to fair and free elections.

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