Who does Venezuela sell their oil to?

In 2019, Venezuela exported primarily to India (321,000 b/d), China (147,000 b/d), and Malaysia (119,000 b/d) (Figure 3). In the first half of 2020, exports of Venezuela’s crude oil fell to an average of 500,000 b/d, based on tanker loadings data.

What does the US import from Venezuela?

U.S. total imports of agricultural products from Venezuela totaled $19 million in 2019. Leading categories include: cocoa beans ($4 million), cocoa paste & cocoa butter ($3 million), unroasted coffee ($3 million), snack foods ($1 million), and processed fruit & vegetables ($206 thousand).

Why don’t we get oil from Venezuela?

Fuel shortages have brought the country to a standstill. Venezuela’s colossal oil sector, which shaped the country and the international energy market for a century, has come to a near halt, with production reduced to a trickle by years of gross mismanagement and American sanctions.

Is Venezuela allowed to export oil?

The Treasury waiver, called General License No. 40, allows LPG exports or re-exports to Venezuela through July 8, 2022. It does not allow the suppliers to receive payment-in-kind of petroleum or petroleum products.

Is Venezuela still selling oil?

But the sludgy oil that Venezuela produces remains in demand. In November alone, Venezuela exported 15 million barrels of oil valued at about $660 million, according to Bloomberg data.

Is Venezuela allies with the US?

The United States and Venezuela have had no formal diplomatic ties since January 23, 2019, but continue to have relations under Juan Guaidó, who is recognized by at least 57 countries, including the United States, as Interim President.

Why is Venezuela broke?

Political corruption, chronic shortages of food and medicine, closure of businesses, unemployment, deterioration of productivity, authoritarianism, human rights violations, gross economic mismanagement and high dependence on oil have also contributed to the worsening crisis.