Venezuela’s crude sales have surged since Washington ousted the country’s leader and eased restrictions on the nation’s oil industry.
Shipping data showed January’s exports were more than 50% higher than those of the previous month, though total output remains far below its peak of almost 3.5 million barrels a day in 2001.
The increase, however, has had significant impacts downstream: As part of a trade deal with the US, Washington said India had agreed to substitute its imports of Russian oil with Venezuelan crude — a detail not confirmed by New Delhi.
Though Venezuelans are increasingly bullish on their country’s economic prospects, they remain bearish on hopes of greater freedom, despite Washington’s envoy pushing the country’s interim leader for political liberalization.