Venezuelan oil exports jump 30% in May as US wind-down period ends

Venezuela's oil exports rose 30% in May from April as buyers loaded cargoes before the end of a US wind-down period on 31 May, Reuters reports, citing shipping data. Fifty vessels left Venezuelan waters carrying an average of 708,900 barrels per day of crude and fuel. Asia took about 250,000 bpd, while Chevron shipped 205,000 bpd to the United States and Europe received 129,000 bpd. Shipments to Cuba rose to 70,000 bpd from 23,000 bpd in April. Washington has granted individual licences to Maurel & Prom, Repsol and BP, according to the report, while more than a dozen other companies await approval.

This is a summary in our own words of the linked reporting. Allegations are those of the source. How we report.