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Venezuelan crude sales to the United States tumbled 23 percent in October

Thursday, November 3, 2016 12:15
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Sales of Venezuelan crude to the United States fell 23 percent in October to 601,605 barrels per day (bpd) due to fewer shipments of diluted oil from the country’s main producing region, the Orinoco belt, according to Thomson Reuters trade flows data.

Venezuela’s oil production has declined sharply this year due to years of underinvestment, payment delays to suppliers and lack of enough diluents to make exportable crude blends, which has affected exports of state-run oil firm PDVSA ….


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