Venezuela's oil exports fall to 1.16 million barrels per day in July while shipments to the US hit a seven year high

Venezuela exported 1.16 million barrels of crude oil per day in July 2026, a slight decline from 1.2 million barrels per day in June, attributed to lower withdrawals from storage. According to a Reuters report relayed on Tuesday, 4 August 2026 (13 Mordad 1405), the country's exports to the United States rose over the same month.

Exports to the United States, Venezuela's biggest oil destination, averaged 786,000 barrels per day in July, the highest since early 2019. US imports from Venezuela have climbed steadily since the removal of President Nicolas Maduro in January, starting from 284,000 barrels per day in the first month of the year. Shipments to other destinations declined: to India from 277,000 to 178,000 barrels per day, and to European importers from 99,000 to 82,200 barrels per day. Venezuelan crude exports had peaked at 1.24 million barrels per day in May.

According to the report, exports of Venezuelan oil have generated some $13 billion since January, held by the United States, which assumed de facto control of the country's oil industry after the events of January. US Energy Secretary Chris Wright put the export figure at 150 million barrels in April. The Financial Times reported last month, citing economists, that there is little evidence of economic recovery in Venezuela itself.