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News > Venezuela

Venezuela: Oils Exports Grew 61% Last Month

  • Venezuelan oil exports increased by 61 percent last month. Jul. 6, 2022.

    Venezuelan oil exports increased by 61 percent last month. Jul. 6, 2022. | Photo: Twitter/@hispanopost

Published 6 July 2022

Data shows an increase in oil exports in Venezuela in the last month.

Venezuela recorded a 61 percent increase in its oil exports last month, mainly due to the first shipments of Venezuelan crude to Europe in two years.

OPEC: Iranian and Venezuelan Oil To Ease Energy Crisis

According to data and documents released on Tuesday by the state-owned oil company Petróleos de Venezuela (PDVSA), the shipments of Venezuelan crude were delivered to the European companies Eni (from Italy) and Repsol (from Spain), following the green light from the US, a country that maintains tough sanctions against Caracas.

Washington decided to allow these exports in order to help Europe compensate for the energy shortages caused by the crisis in Ukraine.

In fact, in June, the oil company PDVSA exported an average of 630,500 barrels of crude and fuel per day.

 Venezuela's first crude shipments to Europe in two years help lift country's oil exports.

On Tuesday, the head of the  Organization of the Petroleum Exporting Countries (OPEC), Nigeria's Mohamad Barkindo, said that the oil from Venezuela alongside Iran could ease the global energy crisis. 

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