Venezuela's oil exports to US falling

Jan 06, 2010 01:00 AM

Venezuela's exports of oil and fuel to the United States are falling.
The US Energy Information Administration says shipments of crude oil and refined products from the South American country to the US dropped to 955,000 bpd in October of 2009, down 17.8 % compared to the same month a year earlier.

The US figures show average imports from Venezuela were down 7 % in the 12-month period ending in October, compared to the previous yearlong period. The reduction is partly due to an OPEC mandate to cut 166,000 bpd last year.
Venezuela is also shipping more fuel to allies such as China.

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