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Venezuelan Crude Exports Slip in January

OIL

Venezuela’s oil exports fell in January despite Chevrons new license to pull cargoes to the US.

  • The new PDVSA chief executive suspended most crude and fuel shipments last month as contracts were reviewed. US cargoes remained.
  • Venezuela exported an average of 558,419 bpd of crude and fuel last month, 19% below December levels and the lowest since July, according to data from Refinitiv and internal PDVSA documents.
  • Chevron last month received six cargoes totaling 2.32 million barrels of Venezuelan heavy crude.


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