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Venezuelan Oil Exports Hit 77-Year Low in June

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   |    Friday,July 03,2020

Venezuela has hit a 77-year low this week in regard to its oil export levels, according to a report by Reuters.

Pressured by proposed sanctions by the US and the Trump Administration, oil tankers that were poised to export oil from Venezuela this week did not follow through. Reuters cited vessel tracking data as the source of the information.

Venezuelan state-run company PDVSA exported a total of 17 cargoes (~379,000 BPD) in June. This is a decrease of 18% from May 2020 export levels.

This puts the nation, led by President Nicolas Maduro, under even more financial pressure.

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