Venezuela Increases Oil Exports to 1.25 Million Barrels Per Day in May
Venezuela's oil exports rose to 1.25 million barrels per day in May, marking the third consecutive month of increase. This growth is attributed to higher shipments to the U.S., India, and Europe, driven by eased U.S. sanctions and expanded oil and gas projects by foreign companies. The U.S. remained the primary destination for Venezuelan oil, receiving approximately 558,000 barrels per day, followed by India with 427,000 barrels per day and Europe with 169,000 barrels per day. The Venezuelan oil ministry has forecasted a crude output of 1.37 million barrels per day by the end of the year, which would represent a 22% increase from the previous year. This resurgence in exports has allowed Venezuela to resume oil sales to countries it had not been able to reach in years. 
