Venezuela’s oil exports jump to ten-month high in February

Oil

Venezuela’s oil exports increased by 188K b/d (or 35%) m-o-m to 732K b/d in February, rising to the highest level since April 2020 as purchases from new customers continue to build despite US sanctions, according to Reuters reporting on data from Refinitiv Eikon and Petróleos de Venezuela (PDVSA). This is still a decline of 382K b/d (or 34%) y-o-y, however exports have now risen for the past two consecutive months with purchases from new clients increasing by 154K b/d m-o-m to 568K b/d, accounting for around 76% of the total figure.