Venezuela’s oil exports rose to 1.25 million barrels per day in May, marking the country’s third straight monthly increase, according to shipping data and PDVSA records reviewed by Reuters.
The increase was small when compared with April at 0.7%. Compared with May 2025, exports were 61% higher. Venezuela shipped 67 cargoes during the month.
The United States was the largest destination for Venezuela crude in May, receiving around 558,000 barrels per day. India received 427,000 barrels per day, while Europe received 169,000 barrels per day.
Reuters said shipments to all three destinations increased from April.
Exports to Caribbean terminals for storage fell to around 58,000 barrels per day in May, down from 187,000 barrels per day in April.
Chevron’s exports from Venezuela fell to around 269,000 barrels per day in May, compared with 308,000 barrels per day in April.
Shipments by global traders, including Vitol and Trafigura rose to 787,000 barrels per day in May, up from 691,000 barrels per day in April.
India’s Reliance Industries was listed among the major buyers. The company sourced cargoes directly from PDVSA, as well as from Chevron. Vitol and Trafigura.
The May figures followed a stronger April, when Venezuela’s oil exports reached 1.23 million barrels per day. According to Reuters, that was the country’s highest export level since 2018.
Venezuela’s oil ministry is targeting crude oil output of 1.37 million barrels per day by the end of 2026. Reuters said the country was producing around 1.12 million barrels per day in late 2025.