Chevron to Raise Venezuelan Crude Exports to U.S. as Oil Benchmarks Extend Gains

Chevron is preparing to significantly increase shipments of Venezuelan crude to the U.S., with exports expected to reach about 300,000 barrels per day in March, up from roughly 100,000 bpd in December and around 230,000 bpd so far in February, according to sources cited on Wednesday. The move underscores a gradual normalization of Venezuelan oil flows into the U.S. market and could modestly influence supply dynamics for benchmark contracts such as Oil – Brent Crude and Oil – US Crude, particularly if higher volumes are sustained amid ongoing geopolitical and OPEC+ policy uncertainties.

Over the past month, prices for Oil – US Crude have advanced about 8.18%, reflecting resilient demand expectations and supply risks, while its 1-day technical outlook currently points to a Buy signal, suggesting near-term bullish momentum despite incremental U.S.-bound Venezuelan barrels. Oil – Brent Crude has gained approximately 9.03% over the same period, outpacing U.S. crude and indicating ongoing strength in the global benchmark; its 1-day technical view also registers a Buy signal, consistent with a market that remains focused on broader supply constraints and demand recovery rather than short-term additions from Venezuela. Investors can explore more updates, prices, and analysis across global markets at Commodities.