Venezuela Sees Jump in Oil Exports ...Middle East

Venezuela’s oil exports managed a notable 10.5% climb in 2024, hitting their highest levels since 2019. State oil company PDVSA and its joint venture partners have deftly maneuvered through shifting U.S. sanctions and a domestic economy teetering on chaos. The result? A respectable 772,000 barrels per day (bpd) average export volume for the year. Much of Venezuela’s success stems from Washington's leniency under President Biden, who issued individual licenses that enabled Chevron and other partners to ship Venezuelan crude stateside.…

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