Venezuelan Crude Oil Exports Reportedly Rise in Aug as Trump Looks for Greater Control

MT newswire2026/08/31 22:55

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06:55 PM EDT, 08/31/2026 (MT Newswires) -- Venezuelan crude oil exports bounced back in August, just as the Trump administration unveiled plans to secure a greater foothold in the South American country's oil sector, Bloomberg reported Monday. According to data from Kpler and vessel movements tracked by Bloomberg, tankers loaded 1.114 million barrels of crude a day in August, a 28% increase month-on-month, as trade with India more than doubled. The Trump administration on Friday said the US government is partnering with private companies to gain control of 65 billion barrels of Venezuelan oil reserves.

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The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.

华尔街见闻•2026/11/10 18:41