Venezuela's Oil Exports Reportedly Dropped 75% Compared To Prior Months Since Maduro's Capture

Core Insights - Venezuela's oil exports have decreased by 75% following the capture of President Nicolas Maduro by U.S. forces, with all oil exports now directed to the U.S. or for domestic refinery use [1] Group 1: Impact on Key Countries - China, which previously imported about 440,000 barrels of Venezuelan oil daily at discounted prices, is now facing potential supply slowdowns [2] - Cuba, heavily reliant on Venezuelan oil, is receiving significantly reduced shipments of less than 20,000 barrels a day [2] Group 2: U.S. Actions and Seizures - The U.S. has been actively seizing sanctioned tankers from a shadow fleet carrying Venezuelan crude, impacting the flow of oil from Venezuela [3] - Approximately 48 million barrels of oil are currently outside Venezuelan waters, not destined for the U.S., with six tankers already seized [4] Group 3: Corporate Involvement - Phillips 66 has refineries capable of processing Venezuelan crude, with CEO Mark Lashier expressing optimism about Venezuela's potential return to the capitalist market [5] - Vitol, a global oil trading firm, secured a $250 million deal for Venezuelan oil, with senior trader John Addison being a significant donor to Trump's re-election campaign [6][8] Group 4: Political Dynamics - The Trump administration is facilitating the sale of Venezuelan oil, with plans to sell between 30 million and 50 million barrels following Maduro's capture [9] - Proceeds from these sales will be managed by the U.S., which intends to oversee Venezuela's oil industry indefinitely [9]