Venezuela Oil: Key Facts on US Supply, Sanctions, and Chevron

Venezuela's crude oil exports to the United States reached a seven-year high in July 2026, with shipments totaling 786,000 barrels per day (bpd). This volume marked the highest level since early 2019, according to Reuters vessel-tracking data. While this positions the US as Venezuela's largest customer for crude, it does not automatically make Venezuela the top crude supplier to the US.

Earlier reports from Kpler and the Energy Information Administration (EIA) had ranked Venezuela as the second-largest US crude supplier, with Canada holding the top spot. Therefore, while Venezuela is indeed a major supplier, it is not the largest.

The 786,000 bpd figure is based on Reuters' tracking of tanker movements. This figure represents a significant rebound in Venezuelan exports. Chevron's joint ventures with the state-owned PDVSA (Petroleos de Venezuela, S.A.) contribute roughly 250,000-280,000 bpd of that total. This makes Chevron a crucial player in Venezuela's oil supply to the US.

As of July 2026, the United States was Venezuela's top destination for crude oil imports. However, the overall mix of US oil imports still tends to favor Canadian supplies. Therefore, when the term "largest supplier" is used, it is important to check the specific date. For July 2026, Venezuela does not qualify as the top supplier.

Delcy Rodríguez, who was described as acting president in 2026 sources, has actively urged the Trump administration to lift sanctions on Venezuela. However, no direct quote from her has been verified in the research provided. Her appeals are part of a broader effort by Caracas (Venezuela's capital) to ease international restrictions on the country.

The exact wording of her statements remains unconfirmed, and her official title has been a point of contention. Some sources refer to her as "presidenta encargada" (acting president), rather than the official title of "president." This distinction is significant for how her appeals are received in Washington. As of the information available, the White House has not publicly responded to her requests.

It is important to note that while the US eased sanctions on Venezuela's energy sector in 2026, a broader sanctions framework remains in place. This partial easing of sanctions allowed Chevron and other companies to expand their operations in Venezuela. However, any further relaxation of the sanctions regime will depend on various political and economic factors. The current situation shows a strong rebound in Venezuelan oil exports to the US, but it does not confer the status of being the top supplier.