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Venezuela’s Oil Exports Reach 921 Thousand Barrels Per Day in November, Driven by the Use of Diluents and Increased Shipment to China.
The oil exports from Venezuela gained momentum in November and surprised the international market. Even in the face of increasing military pressure from the United States in the Caribbean and internal operational issues, the South American country managed to raise shipments to around 921 thousand barrels per day.
This volume represents the third highest monthly average recorded in 2025 so far, according to official data and shipping documents.
The performance reinforces the strategic importance of the oil sector for the Venezuelan economy, which remains dependent on generating foreign exchange through external fuel sales.
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Use of Diluents Helps Maintain Oil Flow for Export
One of the decisive factors for the increase in exports was the greater use of diluents in the production of extra-heavy oil. PDVSA, the state-owned company responsible for the sector, has recently increased imports of naphtha.
The product is used both to enable oil exports and to produce gasoline for the domestic market.
This strategy allowed for the avoidance of a sharper decline in shipments, especially after a fire occurred in October at a major refinery in the country.
The accident forced the shutdown of the facilities and reduced the capacity for refining crude oil in Venezuelan territory.
Despite the impact of the fire, the data shows that exports of crude oil and fuels grew by 3% in November compared to October.
Nonetheless, the volume remained 5% below that recorded in the same period last year, indicating persistent structural challenges in the country’s energy industry.
At the same time, exports of refined products and petrochemical products advanced more significantly. The total shipped reached around 277 thousand tons, up from 195 thousand tons observed in October.
China Remains the Main Destination of Venezuelan Oil
China maintained its position as the main buyer of Venezuelan oil. In November, the Asian country received approximately 80% of the total volume exported, equivalent to around 746 thousand barrels per day.
The trade relationship remains essential for sustaining Venezuela’s exports.
Additionally, there was an increase in shipments to the North American market. Oil exports to the United States, carried out by Chevron in partnership with PDVSA, rose to around 150 thousand barrels per day, compared to 128 thousand recorded in October.
Cuba, a political ally of Caracas, also received regular shipments. The country imported about 24 thousand daily barrels of crude oil, gasoline, and aviation kerosene.
To support production and exports, Venezuela significantly increased its imports of light crude oil and fuels.
The volume more than doubled in November, jumping from 74 thousand to approximately 167 thousand barrels per day.
Even with the presence of U.S. military ships in the Caribbean Sea, the data indicates that there were no significant interruptions in import or export operations of oil during the analyzed period.
Trade continued to flow, highlighting the logistical resilience of the Venezuelan industry in the face of an increasingly complex geopolitical scenario.
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