Venezuela Oil Exports Hold Steady at 1.17 Mln BPD

Venezuela's total oil exports remained largely unchanged in August at 1.17 million barrels per day (bpd), according to tanker-tracking and agency compilations.

The figure is consistent with a pattern seen over recent years, where sanctioned flows have oscillated within a band set by the US license regime and the availability of diluent and blending capacity.

Most of the volume has been moving at a discount through intermediaries to Asian refiners, rather than being sold openly on the market. The distinction between headline volume and realised barrels is worth noting, as heavy crude redirected through dark-fleet logistics and ship-to-ship transfers still reaches the market.