Venezuela saw its oil and oil products exports edge up in September from August, but these higher exports couldn’t drain Venezuela’s overflowing oil stockpiles which further increased last month, Reuters reported on Wednesday, quoting data from Refinitiv Eikon and state oil firm PDVSA. According to the data compiled by Reuters, Venezuela’s exports of crude oil and refined oil products rose to 845,000 bpd in September, up from average exports of 770,000 bpd in August, which was the second-lowest monthly export figure so far this year. Higher exports last month weren’t due to customers suddenly wanting to buy Venezuelan oil. The increased September exports of crude oil and refined products were chiefly due to more exports to Cuba and to the release of oil cargoes that had been sitting offshore Venezuela since the U.S. imposed sanctions on Nicolas Maduro’s regime in early 2019. As if Venezuela’s oil industry is not […]