EnergyInformationAdministration: "U.S. crude oil imports from Venezuela in July were highest since 2017," by Kevin Hack.
"In July 2026, U.S. imports of crude oil from Venezuela averaged 701,000 barrels per day (bpd), the most since May 2017, before decreasing to 655,000 bpd in August, according to data published in our Petroleum Supply Monthly." Crude oil imports from Venezuela started the year at 200,000 bpd + have steadily increased most months this year.
"Increased imports from Venezuela are supported by high crude oil demand from U.S. refineries because of high global refinery margins + the easing of US government restrictions on purchases from the country." The phrasing is indelicate, as the US invaded the country, carried out a rendition of its dictator to the US for trial, + is treating it as a vassal state.
Incidentally, Venezuelan crude is more correctly identified as 'tar sands' or 'bitumen,' much of it so heavy that it sinks in water. It is also sour—signifying high sulfur content—as early prospectors would actually taste it, speaking of indelicacies.
"According to data from Vortexa, the majority of crude oil exports from Venezuela in 2025 were destined for China." In 2026, Venezuela exported no crude oil to China, + the US has instead been the largest single destination by volume for Venezuelan crude oil exports.Â
US crude oil imports from the South American country had stopped shortly after the United States imposed sanctions on state oil company Petróleos de Venezuela SA (PDVSA) in January 2019. "In November 2022, the US Department of the Treasury’s Office of Foreign Assets Control granted Chevron waivers to resume exporting crude oil from its joint venture operations in Venezuela to US Gulf Coast refineries; Chevron resumed these exports in January 2023."
Not exactly the bonanza that the White House claimed. Except for Trump's hope that the reluctant, non-Chevron US oil companies will also invest in Venezuela. A clearly questionable advantage for our citizens + theirs.