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Chart of the Day: Venezuela’s Crude Oil Exports to the US and India have been Increasing
Summary
Figure (1) shows trends in Venezuelan crude exports by destination since the beginning of 2021. Despite US sanctions, the exemption that the Biden Administration gave to various companies increased Venezuela’s exports, which stood at 700 kb/d in August. Among the most noticeable changes is the decline in exports to China while exports to the US, India, and Spain increased.