Venezuela's total oil exports in August remained flat, with exports to the US declining and exports to India and Europe increasing.

1. Shipping data and documents show that Venezuela’s total oil exports in August remained nearly flat at 1.17 million barrels per day, equivalent to last month’s level. Among these, the volume of Venezuelan oil exports carried by traders held steady at 597,000 barrels per day, with almost no change.2. There was a significant shift in the destination structure. Venezuela’s oil exports to the United States dropped to 553,000 barrels per day, lower than previous levels. Meanwhile, oil exports to India and Europe increased, indicating that Venezuela is adjusting its export routes.3. In terms of specific enterprises, Chevron’s crude oil exports from Venezuela in August fell to 286,000 barrels per day. Previously, the newly signed energy agreement between the United States and Venezuela has begun to impact the country’s oil trade framework. Venezuela is trying to maintain its overall export level by expanding exports to non-US markets.