U.S. Imports of Venezuelan Crude Reach Seven-Year High

The rise in U.S.-bound crude stands in sharp contrast to declining demand from other key markets. Exports to India dropped significantly to 178,000 barrels per day, while shipments to European buyers fell to 82,200 barrels per day. This shift highlights a tightening reliance on the U.S. market since Washington assumed de facto control over Venezuelan oil operations following the January transition of power.

Since that period, Venezuelan oil has generated approximately $13 billion in revenue under U.S. oversight. Despite claims that these funds would support Venezuela’s economic recovery, critics and economists point to a lack of tangible improvement on the ground. Representative Joaquin Castro has publicly challenged the administration’s handling of the proceeds, citing a complete absence of transparency regarding how these billions are being utilized. As the flow of capital remains shrouded in administrative secrecy, questions mount over the long-term impact of this financial control on the country's struggling energy sector.