Sanctioned Venezuelan oil exports rise from historic lows thanks to increase in India sales – report

Increased purchases

Increased purchases from India boosted Venezuela’s oil exports last month, after they crashed to multi-decade lows under US sanctions. The increase could be short-lived, though, as Washington is threatening to apply more pressure.

Home to the world’s largest oil reserves, Venezuela shipped 437,600 barrels per day (bpd) of crude and fuel in August, according to internal documents from state oil company PDVSA and Refinitiv Eikon data cited by Reuters.

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