Venezuela Sees Oil Exports Plunge 20% After Canceling Chevron Cargoes

Venezuela saw its oil exports slump by nearly 20% in April from March to the lowest level in nine months, after state-owned oil firm PDVSA canceled cargoes for Chevron, Reuters reported on Thursday, citing shipping documents and tanker-tracking data. Last month, the country holding the world’s largest crude oil reserves exported just 700,000 barrels per day (bpd) of crude and fuels, according to the data. A total of 32 vessels departed from Venezuela’s ports in April, shipping an average of 698,767 bpd of crude and fuel, as well as…