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Tuesday, December 1, 2020

Venezuela Reportedly Increases Oil Exports

Oil tanker Elisabeth Knutsen, later relabeled as Knut and one of several misidentified tankers hired by phantom companies to export oil from Venezuela, is seen anchored off Las Palmas, near the Canary Islands, before departing to Venezuela's Jose terminal, operated by state-run PDVSA, Spain September 27, 2020. Picture taken September 27, 2020. Marine Traffic/via REUTERS

Venezuela Reportedly Increases Oil Exports Despite US Sanctions Pressure

© REUTERS / Marine Traffic
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US President Donald Trump's administration has been seeking to unseat elected Venezuelan President Nicolas Maduro for several years using economic sanctions pressure. Caracas, has, in turn, accused Washington of orchestrating several unsuccessful coup attempts in the country.

Venezuela continues to increase the volume of its oil exports despite US attempts to cut it off from potential buyers, Bloomberg reported citing data unearthed from shipping reports and ship monitoring services. According to the media outlet, Caracas exported more than half a million barrels of oil per day in November, around three times more than in previous months of the year, with most of it purportedly delivered to China.

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