Venezuela Oil Exports Hit 7-Year High as U.S., India, Europe Ramp Up Buying

By Marianna Parraga and Mircely Guanipa

May 1 (Reuters) – Venezuela’s oil exports rose 14% to 1.23 million barrels per day in April, the highest in more than seven years, fueled by more sales to the United States, India and Europe, shipping data and documents from state company PDVSA showed on Friday.

The South American country has been draining oil inventories and recovering crude output in recent months following the U.S. capture of President Nicolas Maduro in January, which led to a flagship supply pact between the governments of U.S. President Donald Trump and Venezuela’s interim President Delcy Rodriguez.