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Venezuelan Crude Oil Exports Fell To 703kbpd In April

OIL

Crude oil exports from Venezuela stood at an average of 703,167bpd in April, down by 9% from March, according to PDVSA documents and Refinitiv Eikon vessel monitoring data.

  • The oil exports were down by 9% from the 773,452bpd shipped in March, but were the second highest monthly average since September.
  • The country’s crude oil production reached 820kbpd in April according to data PdV shared with the Venezuelan Oil Chamber and Chevron.
  • Gas Energy estimated March production of 770kbpd based on PdV data, while the oil chamber put March production at 785kbpd.
  • A wide-ranging audit of state-run oil firm PDVSA led to export delays earlier this year, but an increasing number of customers have been cleared by the firm since then, green-lighting them to resume taking delivery.
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