Data published by the Central Bank of Venezuela this Monday, June 22, reflects that Venezuelan oil exports reached $5.491 billion during the first quarter of the year.

This figure represents a 21 % increase compared to the same period in 2025, when the country received $4.518 billion.

According to the regulatory body, “the balance of payments, which breaks down income by sector, in a context marked by Venezuela’s opening to new investments,” promoted by the United States, which earlier this month indicated that exports reached 1.25 million barrels per day (bpd), the “highest level this Caribbean country has recorded in seven years.”

In this regard, John Barrett, Chargé d’Affaires of the Donald Trump Administration, said at the time that the increase in oil exports “was the result of the three-phase plan of Secretary of State Marco Rubio and the President”; that is, stabilization, recovery, and transition.

M.Pino

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After a recent agreement between Russia and Saudi Arabia, it became known that both regions will maintain the cut in oil exports for another month.

According to the announcement on the measure, exports from Saudi Arabia will remain at 9 million barrels per day. For its part, Russia will remain at 500,000 barrels per day.

Industry analysts consider that the measure by Saudi Arabia is not strange, in the midst of an adverse scenario for the kingdom, where there is a drop in demand for oil from China.

For this year, an increase in the price of a barrel of oil was expected. However, the rise in interest rates, not only in the United States but also in Europe, has demolished those projections and hopes.

Other factors that are also part of this crisis are inflation and the internal policies of the different market players.

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Source: Bloomberg

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La entrada Saudi Arabia and Russia cut oil exports for an additional month apareció primero en Bitfinance.

Venezuela’s oil exports experienced an 8 % drop at the end of January, as reported by Reuters, as a result of contract reviews requested by the new PDVSA president, Pedro Tellechea.

The new manager ordered in January to suspend “most export contracts for crude oil and refined products to submit them to audits, a measure to prevent ships from setting sail before completing payments for shipments.”

The measure caused serious delays in cargoes, which extend to filling in ports, in addition to reducing the list of authorized clients to a minimum of participants in “oil swaps and debt payment agreements with Venezuela.” The list includes Cubametales, Naftiran Intertrade Company of Iran and the oil companies Chevron and Eni, of Italy.”

Exports in February of the Venezuelan state PDVSA and its affiliates were estimated at 555,250 bpd of crude and fuel, destined mainly for China (70 %). Which reveals a drop of 8 % compared to January, in addition to being the lowest since mid-2022.

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La entrada Oil exports fell 8 % in January apareció primero en Bitfinance.