Venezuela managed to ship more crude in March directly to China, its main export destination, even as overall shipments dipped modestly last month, according to internal documents and Refinitiv Eikon data. The country’s state-run oil company Petroleos de Venezuela (PDVSA) and its joint ventures exported an average of 690,323 b/d of crude and fuel in March, a 3.9% decrease from 718,180 b/d in February and a 14.5% fall from 808,000 b/d in March 2020 (OD Mar.19’21).
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