Venezuela's oil exports sank 40 percent in the first full month after the b...
- Venezuela’s oil exports sank 40 percent in the first full month after the beginning of U.S. sanctions designed to oust Socialist President Nicolas Maduro, according to data from state-run oil firm PDVSA and Refinitiv Eikon.
Venezuela’s exports since then have dropped to 920,000 barrels per day of crude and fuel, the data shows. That is down from between 1.47 million and 1.66 million bpd of crude and fuel in the prior three months, the data show. “PDVSA the whole nation has been under a brutal attack by the U.S. government to impact the company’s finances and operations,” Venezuelan Oil Minister Manuel Quevedo said on Thursday at a conference in Saudi Arabia.
After ordering some tankers carrying imported fuels to forcefully discharge amid uncertainty created by U.S. sanctions, PDVSA’s purchases of gasoline, diesel, diluent naphtha and other fuels have grown, satisfying most of the country’s consumption.
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