The Castro government continues to depend on Venezuela to deal with the fuel shortage on the Island, however, this appears to be a solution that may not last, as the levels of crude oil sent by the Madura dictatorship decreased considerably during February compared to months previous.
According to the news agency ReutersVenezuela sent only 34,000 barrels of oil per day (bpd), a figure that did not reach the average 56,000 bpd it sent per month during 2023.
“Shipments from Venezuela to Cuba, its political ally, remained around 34,000 bpd, while deliveries to other Caribbean islands increased slightly,” the agency indicated.
This decrease is recorded despite the fact that exports from the state-owned Petróleos de Venezuela (PDVSA) experienced a slight increase to 670,000 bpd during February.
According to documents consulted by Reuters, continued delays in shipments aggravated a bottleneck of tankers waiting to load the crude.
The report indicates that the oil company’s various clients rushed to send tankers to Venezuela in recent months to collect crude oil, taking advantage of the recent lifting of some of the sanctions that the United States maintained on the South American country.
It is important to note that these restrictions could resume on April 18, after an existing license expires. Therefore, delivering the fuel load has become a race against the clock for PDVSA.
Data revealed by Reuters indicate that among PDVSA’s clients in February were clients such as Chevron, in the US, but weaker production and the lack of diluents to produce exportable grades prevented the state-owned company from taking advantage of this window to increase total exports. .
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