July 25, 2024

Venezuela crude stocks drop as exports pick up

Twetter Retrieved

Venezuelan state oil company PDVSA’s inventories of its main export crude grade dipped this week to their lowest levels since late November, internal company documents seen by Reuters showed. Merey 16 stocks at the country’s main oil terminal, the Jose port, fell to 4.85 million barrels as of Jan. 25, down from 9 million barrels on Dec. 21. The drop came as exports by Petroleos de Venezuela (PDVSA) and its joint ventures rise despite US sanctions on the company, as little-known firms have replaced traditional buyers. Full Text -> BusinessRecorder

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