Venezuela’s main oil ports have not shipped crude to Asian customers for five days due to U.S. sanctions on state-run PDVSA. Chevron ($CVX) has resumed limited exports to the United States. No Venezuelan crude deliveries to Asia for five days affecting the largest export market. At least a dozen sanctioned vessels departed carrying about 12 million barrels to China with transponders off. Chevron ($CVX) resumed U.S.-bound exports after a four-day pause and reopened Venezuela offices as flights restarted. PDVSA faces growing inventories and may deepen production cuts amid export disruptions. Chevron ($CVX) is the primary channel for Venezuelan crude exports to the U.S.

Read more at Quiver Quantitative: Venezuela Oil Exports to Asia Stall as U.S. Embargo Pressures PDVSA Operations