Venezuela’s Oil Exports to the US Hit a Seven-Year High
Energy: Venezuela Key Facts —Record flow. Venezuela shipped about 786,000 barrels per day to the United States in July 2026 — the most since early 2019 — out of total exports of 1.16 million b/d, ship-tracking data reported by Reuters show. —Production back. Crude output reached 1.12 million b/d in July, up from a 941,000 […] The post Venezuela’s Oil Exports to the US Hit a Seven-Year High…
Venezuela's crude oil exports to the United States surged to a seven-year high in July 2026, reaching approximately 786,000 barrels per day (b/d). This marked a significant increase from the 284,000 b/d shipped in January 2026, just after US forces captured then-President Nicolás Maduro and his wife, Cilia Flores. Production in Venezuela rose to 1.12 million b/d in July 2026, from an average of 941,000 b/d in 2025, according to OPEC secondary-source data.
Chevron's joint ventures with PDVSA, the state-owned oil company, expanded production by 15% over six months, reaching 280,000 b/d, with targets for up to 50% more by the end of 2028. The United States reopened its embassy in Caracas on March 30 after a seven-year closure, and OFAC issued general licenses under Executive Order 14373, allowing US companies to engage in various aspects of the Venezuelan oil industry, including oil, gas, petrochemicals, electricity, and logistics.
However, revenues from Venezuelan crude sales are deposited into a US Treasury account, with no transparency regarding how much flows back to Caracas.
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