02-June-2026
Corporate News
 
Venezuela's Oil Exports Rose to 1.25 Million Bpd in May, Shipping Data Shows
02-Jun-2026

Venezuela's oil exports rose slightly to 1.25 million barrels per day in May, its third consecutive month of increase, fueled by more cargoes to the U.S., India and Europe, shipping data showed on Monday. Under the U.S.-supported government of interim President Delcy Rodriguez, Venezuelan crude production and exports have bounced this year as Washington eased sanctions and foreign companies expanded oil and gas projects in the OPEC nation. The oil ministry has forecast a crude output of 1.37 million bpd by year-end, which would imply a 22% increase from the 1.12 million bpd produced in late 2025 and a number not seen since U.S. energy sanctions were first imposed in 2019. The growth also has allowed Venezuela to resume exports to countries it had not been able to sell its oil to in years. The volume of crude and refined products shipped from the South American country in May was 0.7% higher than in April and stood 61% above exports in the same month last year, according to the data, based on tanker movements and records from state company PDVSA. A total of 67 cargoes were exported.

News Source:- https://money.usnews.com/investing/news/articles/2026-06-01/venezuelas-oil-exports-rose-to-1-25-million-bpd-in-may-shipping-data-shows