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Venezuela exported an estimated 1.08 million barrels of oil per day in September 2026, almost 9% less than in August, Reuters reported. The decline was uneven: shipments to the United States increased, while deliveries to India and Europe fell sharply. These figures describe exports—oil shipped out of the country—not production.
How September exports compared with August
Reuters’ September estimate was 1.08 million barrels per day (bpd), compared with 1.19 million bpd in August, the prior-month figure reported by Investing.com. The Reuters report characterized the month-over-month decline as almost 9%.
The monthly volumes are estimates based on tanker movements, as described in the reports. They should not be read as a final, government-verified count: the reports do not provide the underlying tanker records or a full methodology.
Where Venezuelan oil shipments went
Destination figures in Reuters’ report show sharply different month-to-month changes:
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| Destination | August 2026 | September 2026 | Change |
|---|---|---|---|
| United States | 553,000 bpd | 629,000 bpd | Up 76,000 bpd |
| India | 297,000 bpd | 253,000 bpd | Down 44,000 bpd |
| Europe | 260,000 bpd | About 86,000 bpd | Down about 174,000 bpd |
These destination numbers are reported estimates, not a complete accounting of every shipment. In particular, the report gives Europe’s September volume as about 86,000 bpd, so the change for that destination is also approximate.
What Reuters reported about the decline
Reuters attributed pressure on total exports to higher freight costs and trading houses seeking steeper discounts from state-run oil company PDVSA as shipping margins were squeezed. The report also cited tanker reroutings and accumulated shipping delays. It did not quantify how much each factor contributed, so the figures do not establish a single cause or a precise breakdown.
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Company and trader shipments moved differently
The overall decline did not mean every shipment category fell. Reuters reported Chevron’s Venezuelan crude exports at 283,000 bpd in September, nearly unchanged from August. Trading firms shipped about 637,000 bpd, up from 597,000 bpd the month before. These are reported shipment estimates; the source does not provide a full company-by-company breakdown.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the figures do—and do not—show
- They show a one-month export decline: September’s reported total was below August’s.
- They show a change in destination mix: reported US-bound shipments rose while shipments to India and Europe fell.
- They do not measure production: exports count oil leaving the country, not all oil produced in Venezuela.
- They do not establish a trend: one month of shipping estimates cannot by itself show whether exports will continue falling.
Reuters’ report was republished by EnergyNow on October 1, 2026: Venezuela’s Oil Exports Down in September Amid High Freight Rates, Data Show. Investing.com published the August comparison figure on October 1, 2026: Venezuela oil exports fall to 1.08 million bpd in September.
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