Venezuela’s oil exports rise in August on sales to India: Report

NEW DELHI: Venezuela’s oil exports recovered slightly in August after two months at historic lows, boosted by increased sales to India, according to internal documents from state-run oil firm PDVSA and Refinitiv Eikon data.
Overall exports of crude and fuel rose to 437,600 barrels per day (bpd) in August, according to the data, more than the roughly 400,000 bpd in June and July, which were the lowest levels since the 1940s for the nation.
But the increase registered in both exports and imports could be short-lived if Washington moves in the coming weeks to remove exemptions to sanctions that have facilitated Venezuela-related oil trade.
The United States plans to tighten sanctions after blacklisting clients and tanker owners working with PDVSA earlier this year. But a handful of customers keep receiving Venezuelan crude under authorizations granted by Washington to exchange the oil for fuel, so no cash payments go to President Nicolas Maduro’s government.