Sagging supply of byproducts has been the main reason for the decline of oil shipments to the United States. Still, Venezuela continues being among the top five in the ranking of major oil suppliers
Venezuela provided the United States with an average of 1.31 million bpd of crude oil and byproducts in June, a drop of 202,000 bpd, or 13.2 percent, compared with May, reported the Energy Information Administration (EIA), the statistical arm of the US Department of Energy.
The results in June drove the 2007 cumulative average to 1.35 million bpd, that is, 129,000 bpd, or 8.9 percent lower than 1.48 million bpd supplied to the United States within the same term in 2006.
In this way, Venezuela went back to the fourth position in the ranking of major oil suppliers to the United States, following Canada, Saudi Arabia and Mexico. Each of these countries exported to the United States over 1.5 million bpd of crude oil and byproducts last June.
Venezuela was followed by Nigeria, Algeria, Iraq, Angola, the United Kingdom, Russia, Kuwait, Virgin Islands, Norway, Libya and Ecuador.
The drop recorded in the Venezuelan exports of hydrocarbons to the United States was due mainly to a 23.6-percent decline in byproducts, from 288,000 bpd in May to 220,000 bpd in June.
The fall is consistent with the downward trend so far this year. As a matter of fact, the mismatch between the average shipment from January to June 2007 and the same period in 2006 stands now at 76,000 bpd, or 23.3 percent.
As for the exports of crude oil, there was a drop by 134,000 bpd, for an average of 1.09 million bpd. The mean value so far this year amounts to 1.1 million bpd, or 53,000 below the supply during the same period last year, that is a 4.5-percent cut.
In the aggregate, the United States received in June 9.92 million bpd of crude oil, 368,000 bpd less than the amount recorded last May.
Translated by Conchita Delgado
HYDROCARBONS Venezuelan Minister of Foreign Affairs Rafael Ramírez discussed on Monday with Russian authorities the status of the oil market and the sustained plunge in oil prices, the Venezuelan Foreign Office reported.
OIL Russia and Venezuela discussed joint actions to fight falling oil prices, Russian Energy Minister Alexander Novak said on Tuesday after holding talks on Monday with Venezuela's Foreign Minister Rafael Ramírez.
PDVSA Russian oil giant Rosneft said on Monday that it had signed a new oil and byproducts supply agreement with Venezuelan state-run oil company Petróleos de Venezuela (Pdvsa).