Venezuela Oil Shipments to US Fall Over 25%

VENEZUELA · OIL

Fewer barrels of Venezuelan oil headed to the United States in October. Two shipping-data counts put the fall between 27% and 29%.

Venezuela sent 27% to 29% less oil to the United States in October than in September. Two independent counts, published on Monday, 2 November and Tuesday, 3 November, agree on the direction.

The counts measure cargoes differently, so they do not match exactly. Data from the US Energy Information Administration (EIA), a federal statistics agency, show a smaller drop so far.

What the Official Data Show

EIA weekly figures show US imports of Venezuelan crude averaged 567,000 barrels a day in the four weeks ending 23 October. That is about 10% below the 629,000 average of the four weeks ending 25 September.

The EIA counts barrels when they arrive in US ports, not when they leave Venezuela. Cargoes loaded late in October may not show up until the next weekly reports.

The EIA’s monthly series, updated on 30 October, shows imports of 701,000 barrels a day in July and 655,000 in August. In January the figure was only 200,000 barrels a day.

Why Shipments Fell

Both counts point to high freight rates for tankers as a main reason. How much each factor contributed has not been published.

NABEP, a private oil company with a US supply deal, said a first cargo reached Corpus Christi, Texas, on Tuesday, 27 October. The company said two tankers carried 1 million barrels and the voyage took just over a week.

What It Means for US Readers

US refiners that run Venezuelan heavy crude may need to buy other oil if cargoes stay low. Replacement crude could cost more, but no price effect from this drop has been measured.

The EIA says pump prices depend on crude costs, refining, distribution, taxes and market conditions. Related Rio Times reports include Venezuelan Crude Reaches Texas Under US Deal and US Venezuela Oil Imports Hit 630,000 Barrels a Day.

More is on the Venezuela hub and in the Venezuela economy guide. The Venezuela natural resources guide explains the oil sector.

What Is Not Known

It is unclear whether Venezuela‘s total oil exports fell in October, because the two counts cover different cargoes and reach different results. The size of the drop in US-bound oil depends on which count is used.

Neither count shows how much of the fall came from freight costs and how much from Venezuelan output or buyer choices. No PDVSA export figures for October have been confirmed.

Frequently Asked Questions

Did Venezuela’s oil shipments to the US fall in October?

Yes. Two counts put the fall at 27% to 29% from September, while official EIA arrival data show about 10% so far.

How much Venezuelan oil does the US import?

EIA weekly data show US imports of Venezuelan crude averaged 567,000 barrels a day in the four weeks ending 23 October. The August monthly figure was 655,000.

Why did the shipments fall?

Both counts point to high freight rates for tankers. The full set of reasons has not been published.

Will this raise US gasoline prices?

No price effect from this drop has been measured. The EIA says pump prices depend on crude costs, refining, distribution, taxes and market conditions.

Sources: EIA, Weekly Preliminary Crude Oil Imports by Country of Origin; EIA, Weekly U.S. Imports from Venezuela of Crude Oil; EIA, U.S. Imports from Venezuela of Crude Oil, monthly; NABEP, press release of 27 October 2026 (accessed 4 November 2026).