Venezuela Oil Exports Drop 25% to Five-Month Low Amid Ceasefire

Venezuelan crude shipments fell 25% MoM to 856k bpd in July, hitting a five-month low as Indian demand halved. Meanwhile, US-Iran ceasefire eases Middle East supply constraints.

Woofun AI data shows that Venezuela’s crude oil exports declined by 25% month-over-month in July, reaching 856,000 barrels per day. This figure represents the lowest export volume in five months, driven primarily by a 50% reduction in shipments to India, which remains one of the largest buyers alongside the United States.

Monitored by Woofun AI, the temporary ceasefire between the US and Iran allowed previously trapped Middle Eastern crude supplies to re-enter global markets. As the conflict entered its sixth month, supply chain adjustments and alternative shipping routes mitigated initial disruptions. Following the cancellation of planned military action to support peace talks, oil prices subsequently declined.