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Venezuela Oil Exports Almost Triple Even as U.S. Adds Sanctions

  • Tankers shut off satellite signaling devices, change names
  • Crude production down about 48% compared with a year ago
Updated on

Venezuela almost tripled its crude oil exports even as the U.S. continues to tighten sanctions against companies seeking to do business with its ruling regime.

Exports of oil surged to more than half a million barrels a day in November, with nearly all of it heading to China, according to shipping reports and data from vessel monitoring compiled by Bloomberg. Crude output, meanwhile, stood at 484,000 barrels a day on Nov. 25, according to the latest figures in an internal document seen by Bloomberg. That’s a drop of 48% year-on-year but shows that the country, despite sanctions and crippled operations, can still produce more oil than Ecuador.