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Venezuela’s Oil Exports Fall in April

OIL
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Venezuela’s oil exports lost momentum in April, ending a three month rise as it braces for the reimposition of US sanctions, Bloomberg said.

  • Crude loadings totalled 563k b/d in April, down 13% on the month and down 5.9% on the year.
  • Nonetheless, exports to the US were up 80k b/d on the month to 249k b/d, the highest since Nov. 2022. Meanwhile, exports to China were down 85k b/d to 223k b/d.
  • While sanctions were reimposed from April 18, companies have until May 31 to wind down their operations.
  • Chevron will still be allowed to produce and export crude from Venezuela.
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Venezuela’s oil exports lost momentum in April, ending a three month rise as it braces for the reimposition of US sanctions, Bloomberg said.

  • Crude loadings totalled 563k b/d in April, down 13% on the month and down 5.9% on the year.
  • Nonetheless, exports to the US were up 80k b/d on the month to 249k b/d, the highest since Nov. 2022. Meanwhile, exports to China were down 85k b/d to 223k b/d.
  • While sanctions were reimposed from April 18, companies have until May 31 to wind down their operations.
  • Chevron will still be allowed to produce and export crude from Venezuela.