Venezuela’s Oil Exports, Oil Stocks, Fall In January

Venezuela’s oil exports fell 14% in January, exporting less than 1 million bpd of crude and refined products for the month, according to Reuters. The 951,903 bpd that was shipped compares to 1.1 million bpd shipped in December, and 1.38 million bpd shipping a year ago January. Despite the falling off of crude exports for the troubled Latin American nation, its oil stocks in storage fell also—from 39.85 million barrels in September 2019 to 35.9 million barrels at the end of January according to Kpler data provided by Reuters. Most of…