Venezuela's Oil Export Decline: A Market Shift Unfolds

Venezuela's oil exports plummeted to 737,000 bpd in February, marking a 6.5% drop from January and 19% from February 2025. Increased US and European shipments failed to compensate for reduced exports to China, as shown by vessel tracking data and PDVSA's records.

Venezuela witnessed a significant downturn in its oil exports in February, with shipments dropping to approximately 737,000 barrels per day (bpd). The decrease comes despite an uptick in deliveries to the United States and Europe, which were unable to make up for the loss of China as a major market.

Data from vessel monitoring and documents from state-owned Petroleos de Venezuela, S.A. (PDVSA) revealed the February figures were down 6.5% from January. Moreover, they were 19% lower than those recorded in the same month of 2025, highlighting a trend of declining exports.

This shift in oil exports reflects broader changes in Venezuela's economic landscape and its export strategies, as the country navigates fluctuating global energy demands and geopolitical pressures.