Venezuelan crude exports from its main export hub are surging toward multi-year highs in March, three months into the Trump administration’s control of oil sales.
March shipments from the Jose terminal, which accounts for more than 80% of the country’s oil exports, are set to soar to 848,000 barrels a day, according to a preliminary loading program seen by Bloomberg. The volume, if it materializes, would be the highest from Jose since 2019.
Exports are getting a boost from steady imports of naphtha used to thin out Venezuela’s extra-heavy crude for pipeline transport, allowing oil to flow. Just like in ...