Venezuela sees 7-year high in oil exports amid US, India demand
Venezuela's oil exports reached their highest level in over seven years in April, with increased shipments to the United States, India, and Europe highlighting a steady recovery in the country's energy sector following recent geopolitical changes.
According to shipping data and internal documents from state oil company PDVSA, exports rose 14% month-on-month to 1.23 million barrels per day (bpd), marking the strongest monthly performance since late 2018, News.Az reports, citing foreign media.
The rise reflects both higher crude output and the continued unwinding of inventories accumulated during earlier sanctions-related disruptions.
Exports climb to multi-year high
A total of 66 vessels departed Venezuelan waters in April, up from 61 ships in March, highlighting increased shipping activity as global demand for the country’s crude strengthened.
The gains were driven in part by expanded sales to refiners in the United States, alongside continued flows to India and Europe.
The improvement follows a supply agreement reached earlier this year between Washington and Caracas under US oversight, which eased restrictions on Venezuelan oil exports.
The agreement, coupled with US licenses, has enabled trading houses such as Vitol and Trafigura to resume handling cargoes from PDVSA, directing shipments to key international markets.
Venezuela’s export recovery also comes amid broader disruptions in global oil supply, particularly linked to geopolitical tensions in the Middle East, which have tightened markets and increased demand for alternative crude sources.
By Ulviyya Salmanli
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