OIL & YOUR COUNTRY / Venezuela

OIL & VENEZUELA

Venezuela is a net exporter of 668.2 kb/d of petroleum liquids (2024: consumes 234.5, produces 902.7 kb/d — derived from EIA international statistics). Brent rose $15.40 over the past month, to $94.76 (2026-09-02).

PAST MONTH'S MOVE × NET POSITION 668.2 kb/d x 1,000 x +$15.40 = +$10.3M/day

ANNUALIZED IF THE MOVE HOLDS +$3.76B/yr

YESTERDAY'S SESSION ALONE 668.2 kb/d x 1,000 x +$0.11 = +$74K/day

A rise pays it; a fall costs it. Sign follows the move.

First-order border-price exposure: the country's net oil position re-priced at the Brent move, nothing else. It is not a realized import bill or fiscal forecast — it excludes term-contract lags, benchmark differentials (Dubai/Oman, WTI), hedging, product mix, and subsidies. An exact answer to one defined question.

All countries · who pays, who earns The live desk: what's moving oil right now Your desk: what these commodities cost your business, live

Want this the moment it changes? The wire is free. Subscribe.