US Oil Imports From Venezuela Reached 2026 High in July
The United States imported 701,000 barrels of Venezuelan crude per day in July 2026.
Updated on Oct. 1, 2026 in Oil and Gas
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US oil refiners increased their monthly imports of Venezuelan crude by 11 percent in July 2026, reaching a daily average of 701,000 barrels. This volume marked the highest level of imports from the nation since May 2017.
Why it matters
The surge in imports follows the U.S. government decision to lift sanctions on Venezuelan crude exports in 2026. This policy shift has enabled increased energy trade between the two nations following the capture of former president Nicolas Maduro in January 2026.
Valero led the imports by receiving 282,000 barrels per day in July, followed by Citgo at 112,000 and PBF Energy at 84,000. These totals reflect a significant increase from the 630,000 barrels per day imported in June 2026.
The players
Valero
Valero is a major international manufacturer and marketer of transportation fuels and petrochemical products.
Citgo
Citgo is a refiner, transporter, and marketer of transportation fuels, lubricants, and petrochemicals.
Chevron
Chevron is an American multinational energy corporation involved in all aspects of the oil and gas industries.
Continental Resources
Continental Resources is a petroleum and natural gas exploration and production company.
Nicolas Maduro
Nicolas Maduro is the former president of Venezuela who was captured by the U.S. in January 2026.
The details
Valero processed the imported crude at its refineries located in Texas and Louisiana, while companies like Halliburton established agreements with Eneva and West-Construcciones to bolster energy infrastructure. Plans are also underway for Continental Resources to develop a crude block in the Orinoco belt, alongside Chevron's commitment to invest over $7 billion to expand production.
Timeline
In January 2026, the U.S. captured former Venezuelan president Nicolas Maduro.
In June 2026, the U.S. imported 630,000 barrels per day of Venezuelan crude.
In July 2026, the U.S. imported 701,000 barrels per day of Venezuelan crude.
Market Landscape
This increase in Venezuelan crude imports signals a shift in the global energy supply chain as companies move to capitalize on the 2026 lifting of U.S. sanctions on Venezuelan crude exports. This positions major U.S. refiners to rely more heavily on regional reserves as they scale production through multi-billion dollar investment commitments.
The increased import volume may stabilize fuel supply levels for U.S. refineries, potentially impacting long-term gasoline production costs. Customers and energy market participants should monitor how these new production investments influence regional fuel availability and pricing.
The takeaway
The normalization of trade with Venezuela represents a major transition in Western Hemisphere energy markets. Investors and stakeholders should observe whether current production growth targets are met to determine the long-term viability of these regional supply chains.
Further reading
For more context on global market shifts, visit the /business/industry/oil-gas/ section.
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