8% of the total oil exported by Venezuela during 2023 arrived in Cuba. This was confirmed by the state company Petróleos de Venezuela, SA (PDVSA).
By the way, in the recently completed academic year, exports of Venezuelan crude oil increased due to a relief in United States sanctions.
According to a report from the Press Agency Reuters, China was the largest recipient of Venezuelan oil in 2023.
The Asian giant acquired around 65% of the exports linked to crude oil processed in Venezuela.
The figure rose to 695,192 barrels per day (bpd), according to reports from PDVSA, as well as from LSEG vessel monitoring.
Meanwhile, the United States received 19% of Venezuelan crude oil volumes, almost 135 thousand bpd. As mentioned, Cuba imported 8% of Venezuela’s oil and European countries received 4% of the total.
Other nations that also imported oil from Venezuela in 2023 were Panama, Colombia and Brazil.
Exports grew in 2023
PDVSA also revealed that oil exports increased by 12% after the relief of sanctions imposed by the United States since 2019.
Another factor that led to growth in exports was the stable production reflected throughout last year, as well as the increase in shipments during December.
Regarding the specific case of Cuba, oil imports from PDVSA decreased in November to 32 thousand bpd of fuel and crude oil.
This figure means around 54 thousand barrels less than what was reflected last September, when the Island received 86 thousand bpd.
As is known, oil from Venezuela is vital every year to maintain energy “stability” and other areas in Cuba.
The Island has been in the midst of a critical panorama related to energy generation for more than three years.
