Venezuela’s Oil Exports to the U.S. Surge by 51% in First Four Months of 2024
Venezuela Becomes an Indispensable Crude Oil Supplier to the U.S. Venezuela has emerged as one of the top crude oil exporters to the United States (U.S.), with a significant increase in sales during the first four months of 2024. According to recent data from the U.S. Energy Information Administration (EIA), Venezuela ranked sixth among crude oil exporters to the U.S. in April, shipping 209,000 barrels per day (bpd). This milestone represents a 49% year-over-year increase compared to the same month in 2023. Venezuela maintained its sixth-place ranking for the second consecutive month. In March, Venezuela climbed to the sixth spot, exporting 177,000 bpd, after falling to tenth place in February. From January to April 2024, Venezuelan crude oil exports to the U.S. grew by 51% compared to the same period in 2023. During this period, the country averaged 170,000 bpd, while in 2023, the average was 86,750 bpd. This resurgence marks a significant return of Venezuela to the U.S. petroleum...