Venezuela Edges Past US in Spain Crude Sales in August
Venezuelan crude shipments to Spain reached 641,000 tonnes in August, edging past US supplies for third place, official data published on Monday show. The post Venezuela Edges Past US in Spain Crude Sales in August appeared first on The Rio Times .
In August 2026, Spain imported 641,000 tonnes of Venezuelan crude, surpassing the United States to become its third-largest supplier, according to Cores data. This marks a year-on-year increase of 211.9% in shipments from Venezuela, accounting for 5.8% of all crude Spain bought that year. For comparison, the United States supplied 632,000 tonnes.
Venezuela's recent resurgence in crude exports to Spain is attributed to a licensing agreement between the US and the Maduro government, allowing Venezuelan oil sales under US Treasury oversight. Repsol, the primary Spanish company linked to PDVSA, the state-owned Venezuelan oil firm, is actively exploring new areas along Lake Maracaibo.
Despite this, Venezuela still only accounts for 3.8% of Spain's total crude imports over the past 12 months.
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