CARACAS, Wednesday July 10, 2013 | Update

Venezuela's oil exports to the US fall in 2013

Preliminary data shows an 8.3% setback in oil shipments

Venezuelan oil exports to the US averaged 1.5 million bpd in the 2000s (File photo)
Wednesday July 10, 2013  02:50 PM
Venezuelan oil exports to the United States in the first half of 2013 hit their lowest level since the 1990s, amidst Venezuela's strategy to prioritize clients and allies such as China or India and curb oil shipments to the US.

Preliminary statistics from the US Department of Energy reveals that oil exports to the US in January-June this year totaled 754,000 barrels per day, down 8.3% from 823,000 bpd in 2012.

The US has cut oil imports from Venezuela from a peak of 13.06 million barrels in 2006 to 10.59 million barrels in 2012, an 18.9 drop. Concomitantly, the US has raised local oil output from 5.07 million bpd in 2007 to an average of 7.18 million bpd in 2013.

Except for a slight decline in 2002-2003, oil exports to the US averaged 1.5 million bpd in the first decade of the 21st century.

In 2010, Venezuela shipped 988,000 bpd to the US and 951,000 bpd in 2011. In 2012, oil sales remained virtually unchanged, with shipments amounting to 952,000 barrels per day, according to the Department of Energy.

Translated by Jhean Cabrera
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