Venezuela's oil byproducts sales to the US drop 43%

Amidst deterioration of refineries in Venezuela and new commitments to ship crude oil to allied countries, such as China, Venezuela's sales of oil byproducts to the United States have substantially declined.

According to statistics disclosed by the United States Department of Energy, from January to August 2012, Venezuelan oil byproducts sales to the US averaged 52,000 barrels per day (bpd), down 43.4% from 92,000 bpd in the same period in 2011.

In August 2012, crude oil shipments to the US rose by 17%, from 806,000 bpd to 943,000 bpd. However, a 5.7% decline was recorded in January-August 2012 compared to the same period in 2011, from 909,000 bpd to 857,000 bpd.

Venezuela's overall exports of crude oil and byproducts to the US recorded a 9.8% average decline in January-August 2012 compared to the same period in 2011, barely over 900,000 bpd.