Venezuela's oil exports to the US fading fast
Collapsing shipments point to deep pain in the country's oil industry
For all the trials and tribulations in Venezuela-US relations over the years, the steady stream of oil tankers ferrying crude from Venezuela's Caribbean ports into America's Gulf Coast has been a reliable bond binding the countries together. Those tankers are increasingly scarce these days. Venezuela's crude exports to the US are having their worst month in 30 years as the country's oil output continues to suffer under a spiraling economic and political crisis. Shipments to the US averaged just 394,000 b/d in the first three weeks of January, the lowest monthly pace since 1988, lower even than the bottom of the crippling 2002-03 oil strikes, according to data from the Energy Information Admi
Also in this section
10 September 2024
The third part in the second chapter of our history of oil looks at the US shale revolution and ‘declaration of cooperation’ that created OPEC+
9 September 2024
We pick up the story of the history of oil with the response of consumer countries to the 1973 embargo, with the creation of the IEA proving the adage that every action has a reaction
9 September 2024
Continuing our 90th anniversary deep dive into the history of oil, the first part of our second chapter covers the post-war world and the beginnings of OPEC
9 September 2024
While greater focus on decarbonisation is likely, economic pressures and huge debt burden could squeeze energy policy ambitions
