REPORT: Chevron Is Currently Importing Roughly 250,000 Barrels Of Venezuelan Oil Per Day

Chevron Corporation is currently importing an average of 250,000 barrels per day of Venezuelan crude oil into the United States. The massive uptick in production comes amid improved relations between the U.S. and Venezuela, as well as global oil fears sparked by the conflict in Iran.

Company officials, including Andy Walz, president of downstream, midstream, and chemicals at Chevron, confirmed the increase while speaking with the BBC. The oil is processed primarily at U.S. Gulf Coast refineries, such as Chevron’s facility in Pascagoula, Mississippi, where it is refined into products including gasoline, diesel, and jet fuel.

Chevron has indicated potential to increase imports to 350,000–400,000 barrels per day, depending on operational capacity and authorizations.

The increased activity occurs through Chevron’s long-standing joint ventures with Venezuela’s state oil company, Petróleos de Venezuela S.A. (PDVSA). The four ventures produce approximately 240,000–250,000 barrels per day of heavy crude, a grade well-suited to complex U.S. Gulf refineries.

In early 2026, Chevron’s exports from Venezuela to the U.S. rose from about 99,000–100,000 barrels per day in December 2025 to over 220,000 barrels per day in January, reflecting expanded licensing. By March and April 2026, volumes stabilized near the current 250,000-barrel daily average, with tanker data showing regular shipments.

Venezuela has long held some of the world’s largest proven oil reserves, and the United States was historically one of its largest customers. In the early 2000s, U.S. imports of Venezuelan crude and petroleum products often exceeded 1 million barrels per day.

These numbers plummeted throughout the reigns of Hugo Chavez and Nicolas Maduro. The sector is also still recovering, as Venezuela’s total oil production averaged around 800,000–1 million barrels per day in late 2025 and early 2026, down significantly from peaks above 3 million barrels per day in the late 1990s.

Exports followed a similar pattern. In January 2026, Venezuelan oil exports reached approximately 800,000 barrels per day, with the United States receiving about 284,000 barrels per day — primarily via Chevron. By March 2026, monthly exports exceeded 1 million barrels per day for the first time since the prior September, supported by trading houses and direct U.S. refinery purchases.

Increasing trade occurs amid a historic improvement in relations between the U.S. and Venezuela following the military operation that led to Maduro’s capture earlier this year. The two nations recently restored full diplomatic ties and have committed to future economic and regional cooperation.

RELATED: Snap Survey Finds Overwhelming Support For Trump-Negotiated Ceasefire In Iran