Venezuela’s Oil Exports Sharply Increase in February

Exports increased 35% from the previous month, the highest level in 10 months.

Oil exports from Venezuela increased remarkably in February, influenced by sales to Asia, the Refinitiv Eikon’s tanker tracking data reported.

According to the data quoted by Reuters, the exports surpassed 700,000 barrels per day last month as clients in Asian markets have increased their demand since October when the data indicated about 123,000 barrels per day to 568,200 bpd last month.

“President Nicolás Maduro extended the Energy Emergency Decree until 2022 Signed Collective Bargaining Agreement for the oil working class.”

Moreover, the organization estimates that production by PDVSA and its joint ventures last month was 35 percent higher than in January, with over 30 cargoes shipped, mainly to China, Singapore, and Malasia.

Recently, Venezuelan authorities announced that they aim to produce 1.5 million barrels per day in 2021 amid a general recovery of the oil industry.


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