Shipping data released on Monday indicates that Venezuela's oil exports rose slightly to 1.25 million barrels per day in May, achieving growth for the third month in a row, primarily due to increased shipments to the United States, India, and Europe.
Under the interim government led by President Rodriguez, which is supported by the United States, Venezuela's crude oil production and exports have rebounded this year as Washington eased sanctions and foreign companies expanded oil and gas projects in this OPEC member nation. The oil ministry forecasts that crude output will reach 1.37 million barrels per day by the end of this year, representing a 22% increase from the 1.12 million barrels per day recorded at the end of 2025. This level is the highest seen since the United States first imposed energy sanctions in 2019 and has enabled Venezuela to resume sales to some countries that had been unable to import its oil for many years.
Based on data tracking tanker movements and records from the state oil company PDVSA, Venezuela's exports of crude oil and refined products in May increased by 0.7% compared to April and surged by 61% year-on-year. A total of 67 cargoes were exported during the month. The data shows that the United States remains the top destination for Venezuelan oil, importing approximately 558,000 barrels per day. India followed as the second-largest destination with 427,000 barrels per day, and Europe imported 169,000 barrels per day. Imports into all three of these key regions in May were higher than in April.
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