Venezuela’s oil shipments plummeted in August by 38% compared to the three-year high reached in July as state oil firm PDVSA was unable to maintain production at the upgraders that convert the extra heavy oil into grades suitable for shipping, Reuters reported on Monday, quoting PDVSA internal documents and tanker-tracking data. Last month, Venezuela exported 544,000 barrels per day (bpd) of crude oil, down by 38% compared to over 877,000 bpd shipped in July, per LSEG Eikon vessel tracking data cited by Reuters. In July, Venezuela’s…
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