Venezuelan oil exports to the U.S. rise 25%

Venezuela's oil exports to the U.S. reached 571,000 barrels per day in the week ending October 16, a 25% increase from the previous period, according to the Banca y Negocios news portal. The rebound allows the country to log 26 consecutive weeks as the second-largest supplier of crude to the U.S. market.

This flow of hydrocarbons is part of the easing of sanctions imposed by the U.S. administration, with the year-to-date average reaching 460,000 barrels per day. That figure represents a 243% increase over the same period last year, according to data published by the specialized outlet.

Meanwhile, the four-week moving average registered a slight decline of 0.5%, standing at 551,000 barrels per day at the close of October 16. Despite this marginal drop, the metric marks its 23rd consecutive week staying above the threshold of half a million barrels per day.

The recovery in Venezuelan oil shipments contrasts with volatility in international markets and the spillover effects of conflicts in the Middle East on global energy supply. The performance of these shipments is key to generating foreign-currency revenue and to short-term macroeconomic stability at home.