Venezuela’s Oil Exports Hover Around 700,000 Bpd

Venezuela’s oil exports are hanging tough around 700,000 bpd, where they have been for the last three months, according to tanker tracking data and PDVSA documents cited by Reuters. Of that 700,000 bpd, roughly 75% of that oil found its way to Asia and the Middle East, tanker tracker data showed. PDVSA’s oil exports fell sharply last year after the United States toughened its stance on the Latin American country’s oil exports by ordering it to stop swapping its crude oil for imported fuel—a type of transaction that had been…