WASHINGTON—U.S. crude oil imports from Venezuela surged in September, reaching 782,000 barrels per day in the week ending September 11, according to the latest data from the U.S. Energy Information Administration (EIA).
This figure represents a significant increase compared to
previous weeks. In August, weekly shipments had registered levels of 743,000,
730,000, 662,000, and 598,000 barrels per day, before rising to 599,000 in the
first week of September.
The increase reflects a notable growth in Venezuelan crude
flows to the U.S. market and once again places Venezuela among the top foreign
suppliers of oil to U.S. refineries. This aligns with Trump's promise and his
achievement in bringing US capital back to Venezuelan oil to benefit the citizens
of the South American country.
EIA data also illustrates the magnitude of the change
recorded during 2016. In the first weeks of the year, weekly imports hovered
around 200,000 barrels per day, before gradually increasing to over 700,000
barrels per day during the summer.
This surge also contrasts sharply with the levels recorded
in the years following US sanctions that drastically reduced oil trade between
the two countries. In 2019, for example, monthly imports of Venezuelan crude
plummeted to record lows, before gradually recovering.
The evolution of these shipments makes Venezuelan oil a
significant element in the energy dynamic between Caracas and Washington,
especially given the capacity of US refineries to process certain types of
heavy crude.