Venezuela’s oil exports are below one million bpd

The data presented by the Energy Information Office ensures that the delivery of crude oil to the US keeps falling for the second consecutive month

According to data from the Energy Information Office (EIA), Venezuela’s oil exports were below a million barrels per day for the second consecutive month.

This is due to many factors. The main one are the sanctions imposed by the United States against the oil company and the blackouts that occurred in the month of March.

These sanctions prohibit the trade of oil between Venezuela and the US, and in case a crude oil export was made the money will be frozen in a US account.

Nevertheless, the Donald Trump government granted a license to US companies to continue operating until July 27, while third-party operations in the US financial system with PDVSA must cease on April 28.

Between the months of February and March, as presented by the EIA, the reduction of oil exports towards some destinations have been falling. However, others such as India and European regions have grown.

They added that until April 19th Venezuela has exported some 401,000 barrels per day to the United States.

K. Tovar

Source: Bancaynegocios

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