Venezuela oil exports rise sharply in January under US control, data shows [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
December, after the U.S. capture of Nicolas Maduro and the ending of an oil ?blockade which has let traders carry most exports, shipping data showed. Washington imposed an oil embargo on the U.S.-sanctioned ?country in December to pressure Maduro and seized seven tankers. The blockade led to the accumulation of more than 40 million barrels of crude and fuel ?in onshore tanks and vessels that could not be exported and forced Venezuela's state-run energy company PDVSA to cut output in early January. Since the U.S. Treasury Department extended the first licenses to traders Trafigura and Vitol in January to begin exporting the stocks, oil production, processing and shipments from the OPEC member have accelerated, the data, which is based on tanker movements, shows. The January volume ?was close to average exports of 847,000 bpd ?of crude and fuel last year. However, PDVSA's partners and traders would have to continue accelerating the pace of exports to drain millions of barrels st
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