Venezuela’s oil exports drop to lowest since 1943

Oil

Venezuela’s oil exports decreased by 92K b/d m-o-m to 379K b/d in June, dropping to the lowest level since 1943, according to Reuters reporting on Refinitiv Eikon data and Petróleos de Venezuela (PDVSA) loading schedules. Sanctions enforced by the US government have expanded in recent months, further restricting suppliers’ ability to find buyers for crude cargoes.