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Venezuela’s Oil Exports Fall Even as U.S. Shipments Hit Seven-Year High
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OilPrice.com Daily News Update
July exports to Venezuela’s biggest oil destination averaged 786,000 barrels daily, which was the highest since early 2019, Reuters noted in its report.
Venezuelan exports of crude hit a peak of 1.24 million barrels daily in May.
Since January, exports of Venezuelan oil have generated some $13 billion, held by the United States, which assumed de facto control of the country’s oil industry following Maduro’s capture.
Back in April, Energy Secretary Chris Wright put the export figure at 150 million barrels.
There is, however, controversy around the money from Venezuelan oil and who holds it, namely, the Trump administration, which has been quiet about what the money is being used for.