Chevron Is Loading Venezuela Oil Onto Tankers at the Fastest Pace in Months

Chevron Corp., the sole Western supermajor permitted to pump Venezuelan oil, is loading tankers at the fastest pace in seven months as the US government moves to control the Latin American nation’s crude riches.

Chevron loaded 1.68 million barrels of Venezuelan oil onto ships during the first week of this month, the most for that period since May, according to vessel movements tracked by Bloomberg. The amount pumped aboard vessels was almost five times the volume of the same week in December.