Venezuela oil exports reach 1.25 million bpd in May
Venezuelan crude exports rose for a third consecutive month in May as increased shipments to the United States, India, and Europe offset a decline in Caribbean storage. The country is targeting a production rate of 1.37 million barrels per day by the end of 2026 following eased sanctions.
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Venezuela increased oil exports to 1.25 million barrels per day in May, marking a third consecutive month of growth. Shipments rose 0.7% from April and 61% compared to the same month last year. This recovery reflects easing U.S. sanctions and foreign investment restoring output to levels not seen since sanctions were first imposed in 2019.
