Venezuela oil exports rise on Chevron's cargoes, more supply to China
Venezuela's oil exports rose 15% to some 867,000 barrels per day in January, driven by an increase in shipments by U.S. major Chevron Corp from its joint ventures with state firm PDVSA, and more cargoes to China, data based on vessel movements showed. The administration of former U.S. President Joe Biden last year did not renew a broad authorization for sanctioned Venezuela to freely export its oil, but granted individual licenses to some PDVSA partners and customers, allowing exports to flow to markets such as the U.S., Europe and India. President Donald Trump has said the U.S. does not need Venezuela's oil, but has not taken any action to amend or revoke licenses as his government makes initial contacts with Venezuelan President Nicolas Maduro, whose re-election last year was not recognized by Washington.
