US Imports of Venezuelan Crude Slip to 655,000 b/d in August

The United States imported 655,000 barrels a day of Venezuelan crude oil in August 2026, 6.6% less than July’s 701,000, which was the most since May 2017, according to the U.S. Energy Information Administration (EIA). The slide appears to have continued in October: Reuters reports that Venezuelan shipments to the U.S. fell nearly 29% from September to about 449,000 barrels a day, while Europe took more. Data as of November 9, 2026.

What is known

• EIA monthly series (released October 30, 2026), crude only, thousand barrels a day: January 200, February 231, March 373, April 429, May 471, June 630, July 701, August 655. August 2025 was 39,000, so August 2026 is about 17 times higher.
• Share of U.S. crude imports: with the EIA’s total of 6,594,000 b/d in August, Venezuela was about 9.9% (11.3% in July on 6,224,000). In July it also sent more than Mexico (352,000) and Saudi Arabia (209,000), per the same series. (The percentages are our calculation from EIA figures.)
• October, per Reuters: Venezuela’s total exports (crude, fuel, products and petrochemicals) were 1.08 million b/d, down 0.5% from September, the lowest since February and 21% above a year earlier; 67 vessels sailed. Shipments to the U.S. fell nearly 29% to about 449,000 b/d; Europe rose to 235,000 from 86,000; India eased to 242,000 from 253,000; Caribbean storage hubs rose to 83,000 from 76,000.
• Chevron: its Venezuelan crude shipments rose to about 303,000 b/d, its second-highest monthly average this year, per Reuters. Shipments handled by traders such as Vitol and Trafigura fell to about 506,000 b/d from 637,000.
• Why, per Reuters: stagnant crude output and high freight rates continued to curb demand for many South American grades. Producers are preparing investments to expand capacity, including imported rigs and repairs to PDVSA’s ageing infrastructure.
• Weekly EIA estimates reported by El Universal had put the 2026 peak at 782,000 b/d in the week of September 11, the highest since August 2017, with Venezuela as the second-largest supplier to the U.S. market for 26 straight weeks. These are preliminary numbers and differ from the monthly series.

Gasoline did not follow

A gallon of regular gasoline cost $4.153 on November 2, 2026, per the EIA: below the $4.478 of September 21, but $1.13 (38%) more than the $3.019 of a year earlier. The reason is the world price of crude: the EIA’s monthly average for WTI was $102.07 in October and for Brent $123.93. More barrels from Venezuela to Gulf Coast refiners have not offset that. Full explanation: Will Venezuelan oil lower U.S. gas prices?.

What is not known

• September and October U.S. imports. The EIA publishes September’s monthly figure on November 30; until then the October drop to 449,000 b/d rests on Reuters’ tanker data, which is not the same measure as the EIA’s customs-based imports.
• Why the two October counts disagree. Our earlier report, citing Bloomberg Línea, said exports fell 25% to 809,000 b/d. Reuters counts 1.08 million b/d and a 0.5% change. The scopes differ (Reuters includes fuel, products and petrochemicals) and neither source explains the full gap. See Venezuela’s oil exports in October.
• Whether the plateau is temporary. Reuters describes production growth as flat for now; Rystad Energy’s forecasts of higher output depend on investment that has not happened yet.

Why it matters

Venezuelan barrels are the heavy crude that U.S. Gulf Coast refineries were built to process, and they compete with Canadian and Mexican oil. A lower figure in August and October means the first big wave of the 2026 reopening has levelled off. Licenses decide who can buy (Venezuela sanctions explained), and the main exporter is Chevron (oil companies in Venezuela). For investors, the stocks with exposure to Venezuelan oil move with these numbers.