investing.com 04 Jan, 2021 07:30 am

Venezuela's oil exports sink to 1940's level under tighter U.S. sanctions -data By Reuters

Venezuela's oil exports sink to 1940's level under tighter U.S. sanctions -data

sanctions, Venezuela's oil exports plunged by 376,500 barrels per day (bpd) in 2020, according to Refinitiv Eikon data and internal documents from state-run PDVSA, financially squeezing socialist President Nicolas Maduro.Venezuela's oil exports swung wildly during the year, plummeting after Washington imposed sanctions on two units of PDVSA's main trade partner, Russia's Rosneft, and bouncing back when the Venezuelan state oil company found new customers and vessels to ship its oil.For a graphic on Venezuela's monthly oil exports since 2019, click on: https://graphics.FILE PHOTO: The logo of the Venezuelan oil company PDVSA and cut-outs depicting oil facilities are seen on a building of the company in Caracas p By Marianna Parraga and Mircely Guanipa (Reuters) - Pressured by strict U.

President Donald Trump also put curbs on PDVSA's main trading partners, the owners of tankers still transporting Venezuelan oil and on fuel supply to the gasoline-thirsty nation.Venezuela's exports of crude and refined products fell 37.

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