Venezuela oil exports hit highest level since 2018
Updated
Updated · Semafor · May 4
Venezuela oil exports hit highest level since 2018
9 articles · Updated · Semafor · May 4
Shipments to India have risen sharply after the US captured former president Nicolás Maduro and installed a leader who opened the sector to private investment.
Eased restrictions have boosted crude production and drawn interest from major companies including Exxon, whose chief had previously described Venezuela as uninvestable.
The export surge could reshape geopolitics by weakening Russia's leverage in India, a major buyer of Russian crude, as Ukraine targets Russian energy infrastructure.
As Venezuelan oil floods the market, is this the final blow to Russia's wartime economy?
How will Russia and China counter America's new influence over the world's largest oil reserves?
Can Venezuela's new oil laws prevent a repeat of past corruption and finally benefit its citizens?
Venezuela’s Oil Comeback: April 2026 Exports Hit 1.23 Million BPD Amid U.S. Sanctions Easing
Overview
In April 2026, Venezuela's oil exports surged to a record 1.23 million barrels per day, driven by the U.S.-led capture of former President Maduro and the installation of Delcy Rodríguez as acting president. This political shift led to U.S. sanctions relief and broad licenses allowing Venezuela's state oil company to sell oil freely, enabling major players like Chevron and trading firms to ramp up shipments. Despite this export boom easing global supply tightness, Venezuela faces serious challenges from deteriorated infrastructure, heavy crude quality, and political uncertainty as Rodríguez's interim term extended without formal approval. Sustaining growth requires massive investment and stable governance amid complex U.S. oversight and market risks.