Venezuelan July Oil Exports Shift

Venezuelan oil exports declined slightly in July to 1.16 million barrels per day from 1.2 million barrels in June, due to reduced depletion of its reserves. However, exports to the United States increased to approximately 786,000 barrels per day, the highest level since early 2019. Shipments to India and Europe also decreased, while the increase was concentrated in exports to America, reflecting shifts in oil markets and export policies.

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