Venezuela’s oil exports fell in July as crude processing units were hit by outages, according to Reuters.

• This cut stocks available from the main producing regions and delayed cargo loadings.
• A total of 38 cargoes departed from Venezuela with an average of 585.6k b/d of crude and 266k mt of oil byproducts and petrochemicals, LSEG data showed.
• This is down 26% on the month and down 33% on the year.
• The USA was the main destination for Venezuelan crude for the first time since Washington imposed sanctions on Caracas in 2019.
• US producer Chevron reached its second-highest monthly export capacity in Venezuela, shipping 238k b/d to US ports.