Venezuela sells the US 989,000 bpd of oil in November
The United States has narrowed the energy buy-sale gap
Venezuelan exports of crude oil to the United States better performed in November, as appears from the preliminary numbers collected by the US Department of Energy.
Last month, Venezuela extended its rally and sold around 989,000 barrels per day (bpd) of crude oil to the United States, almost 100,000 bpd, or 11.7%, over 885,000 bpd in October.
Preliminary reports of sales in November also point to a 32% surge over the same month in 2011. At that time, only 748,000 bpd of crude oil would be sent. Exports in October 2012 plunged by 31,000 bpd, or -3.3%, compared to 916,000 bpd in October last year.
The United States has demonstrated a substantial downward trend in its energy imports, whereas its energy exports have risen.
Approximately 86% of the energy imported by the United States in 2011 accounted for oil. Canada was the major supplier, followed by Mexico, Saudi Arabia, Venezuela and Nigeria.
Overall, 40% of the oil bought by the United States last year came from the Organization of Petroleum Exporting Countries (OPEC).
Since the Venezuelan government imposed currency and price controls in 2003 property rights have been seriously affected, as the individual's freedom to acquire, use, enjoy and dispose of property has been severely restricted, according to experts.