• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 14 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 8 days Energy Armageddon
  • 10 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 4 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 10 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 4 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 1 day Is Europe heading for winter of discontent with extensive gas shortages?
  • 4 days The Federal Reserve and Money...Aspects which are not widely known
  • 5 days Goldman Betting on Cryptocurrencies
  • 8 days Сryptocurrency predictions
  • 13 days Putin and Xi Bet on the Global South

Breaking News:

Oil Prices Jump On Major Crude Draw

China Covid Protests Weigh On Oil

China Covid Protests Weigh On Oil

Growing protests in China against…

Xi’s Zero-Covid Policy Sparks Largest Protests Since 1989

Xi’s Zero-Covid Policy Sparks Largest Protests Since 1989

CCP General Secretary Xi Jinping’s…

Venezuela Continues Shipping Oil To Cuba

Venezuela has sent 1 million barrels of crude to Cuba despite pressure from the United States to suspend these shipments, Reuters reports citing a PDVSA document as well as shipping data.

The U.S. has been trying to plug Venezuela’s oil exports through sanctions on PDVSA, which have effectively stopped the flow of Venezuelan oil to U.S. refiners, and through a suspension of diluent exports to Venezuela. The latest was sanctioning 23 vessels and two companies involved in shipments of oil to Cuba.

However, as TankerTrackers.com co-founder Samir Madani noted soon after these sanctions were announced, 31 of the 35 sanctioned vessels were not tankers at all but tug boats, as per the official list released by the Department of Treasury.

Reuters noted in its report that the two tankers used to make the latest shipment to Cuba were not on the sanctioned vessels list. One carried 400,000 barrels of crude and the other 600,000 barrels.

And that’s not all. Besides the two tankers en route to Cuba with crude oil, there are three more waiting to load refined products, also bound for the Caribbean island.

Despite dropping oil production, Venezuela’s still-standing government is adamant about honoring its barter deal with Cuba, which opposition leader Juan Guaido slammed as stealing and called for a suspension of shipments as the oil was more needed at home amid a string of devastating blackouts.

PDVSA, however, is under the control of military officials still loyal to the Maduro government, hence the continued shipments to Cuba, whose leader, Raul Castro has been equally adamant that the island will continue supporting its ideological ally.

Venezuela’s oil production fell sharply last month, by 289,000 bpd to below 1 million bpd—to 732,000 bpd in March, according to OPEC’s secondary sources cited in the latest edition of its closely watched Monthly Oil Market Report.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News