Venezuela’s crude supply to the United States was flat in August

14 Sep 2017   USA, Venezuela

Venezuelan crude sales to the United States in August were largely unchanged at 638,935 barrels per day (bpd) compared with the prior month, but continued to fall far short of year-earlier levels, according to Thomson Reuters Trade Flows data. State-run oil company PDVSA has sought to increase exports of diluted crude oil (DCO), a blend of imported naphtha and extra heavy oil from the Orinoco Belt, Venezuela’s largest producing region. But declining output of other grades and problems obtaining short-term financing due to a growing risk of default and sanctions imposed by the United States have affected PDVSA’s shipments to the United States in recent months. The closure of several Texas oil ports and refineries at the end of August ahead of Hurricane Harvey also affected the imported volumes. PDVSA and its joint ventures sent a total of 38 crude cargoes to the United States in […]

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