Washington DC [US], November 9 (ANI): United States imports of crude oil from Venezuela climbed to an average of 701,000 barrels per day in July 2026, marking the highest monthly volume recorded since May 2017.
The intake tapered slightly in the subsequent month, falling to 655,000 barrels per day in August, according to data from the US Energy Information Administration (EIA) in its Petroleum Supply Monthly.
Shipments from the South American producer began the year at 200,000 barrels per day and followed an upward trajectory across most months of the current calendar year.
“Increased imports from Venezuela are supported by high crude oil demand from US refineries because of high global refinery margins,” the US EIA said.
The agency noted that the intake expanded further due to “the easing of US government restrictions on purchases from the country.”
A significant factor behind this operational appetite remains industrial infrastructure along the southern American coastline.
“Many refineries on the US Gulf Coast (PADD 3) are configured to process heavy sour crude oil grades,” the US EIA stated, pointing out that these facilities handle grades “such as those from Venezuela.”
The surge coincided with a complete redirection of trade flows away from Asia. Figures from Vortexa showed that while the majority of Venezuelan crude oil exports headed to China during 2025, Venezuela sent zero crude oil shipments to China this year. The United States stepped in as the single largest destination by volume for Venezuelan crude oil exports.
The current trade levels reflect an evolving diplomatic and commercial framework. Direct American imports of Venezuelan crude halted entirely after Washington imposed sweeping sanctions on state-owned oil firm Petróleos de Venezuela SA in January 2019.
A gradual reopening started when the US Department of the Treasury’s Office of Foreign Assets Control issued waivers to Chevron in November 2022, permitting the company to restart exports from its joint venture operations in Venezuela to US Gulf Coast refineries. Chevron resumed those outward shipments in January 2023.
Washington implemented broader policy changes toward PDVSA after the capture of Venezuelan President Nicolas Maduro in January 2026. Following that political development, the US government rolled back restrictions on the state oil enterprise and introduced measures granting American companies authorization to invest directly in Venezuela to expand its domestic crude extraction capacity. (ANI)
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