Venezuela exported an estimated 1.08 million barrels of oil per day in September 2026, almost 9% less than in August, according to Reuters reporting republished by EnergyNow. The decline was not uniform: shipments to the United States increased, while deliveries to India and Europe fell. These are export estimates based on tanker movements, not a measure of oil production or a government-verified final count.
How much did Venezuela’s oil exports fall?
Reuters reported September exports of 1.08 million barrels per day (bpd), almost 9% below the previous month. Investing.com reported August exports at 1.19 million bpd, the comparison figure for the decline. The reports describe volumes estimated from tanker movements; the underlying records and full methodology are not provided in the cited coverage.
Exports measure oil shipped out of the country. They should not be read as Venezuela’s oil production: the figures here do not establish how much oil was produced, consumed domestically, or held in storage.
Where did Venezuelan oil shipments go?
| Destination | August 2026 | September 2026 | Reported change |
|---|---|---|---|
| United States | 553,000 bpd (Reuters, republished by EnergyNow) | 629,000 bpd (Reuters, republished by EnergyNow) | Increased |
| India | 297,000 bpd (Reuters, republished by EnergyNow) | 253,000 bpd (Reuters, republished by EnergyNow) | Decreased |
| Europe | 260,000 bpd (Reuters, republished by EnergyNow) | About 86,000 bpd (Reuters, republished by EnergyNow) | Decreased |
The destination figures show why the monthly total alone does not describe the shift in trade flows: US-bound shipments rose even as shipments to the other listed destinations dropped. These destination estimates do not, by themselves, account for every barrel in the reported total.
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What was reported behind the decline?
Reuters attributed pressure on exports to higher freight costs squeezing trading margins and trading houses seeking steeper discounts from Venezuela’s state-run PDVSA. The report also cited tanker reroutings and accumulated shipping delays. It did not quantify how much each factor contributed, so none should be treated as a measured or sole cause of the month’s decline.
Did shipments from Chevron and trading firms move the same way?
No. Reuters reported Chevron’s Venezuelan crude exports at 283,000 bpd in September, nearly unchanged from August. Trading firms shipped about 637,000 bpd, compared with 597,000 bpd in August. Those company and shipment-category movements differed from the decline in the overall export estimate, underscoring that the aggregate figure masks changes among exporters.
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What the figures do—and do not—show
- They show a reported month-to-month decrease: September’s estimated total was lower than August’s.
- They show a change in destinations: reported US-bound volume rose while India- and Europe-bound volumes fell.
- They do not establish a longer-term trend: one month of estimates does not predict October exports or what follows.
- They are not a fully audited count: the cited coverage describes tanker-movement estimates but does not supply complete tanker records or an independently audited methodology.
Sources: Reuters reporting republished by EnergyNow, October 1, 2026; Investing.com, October 1, 2026.
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