Venezuela Oil Exports and Sanctions Enforcement

January 2026

• The United States continues active enforcement of existing sanctions on Venezuelan crude oil exports.
• Enforcement includes legal detention, seizure, and monitoring of sanctioned oil tankers, supported by U.S. Navy and Coast Guard assets.
• U.S. officials describe current actions as sanctions enforcement, not a formally declared naval blockade.

Market Status

• Brent crude trading around USD 60–61/bbl.
• WTI trading around USD 57–58/bbl.
• No immediate global supply shock observed.

Production

• Venezuela producing ~1 million bpd or less, representing <1% of global supply.

Shipping

• Multiple tankers reported departing Venezuelan ports under AIS-restricted (“dark shipping”) conditions.
• Several sanctioned vessels detained or intercepted under existing legal authorities.
• Legitimate exports to Asia slowed or halted.

Regional Exposure

• China remains the most exposed buyer.
• India had already reduced Venezuelan imports significantly prior to 2026.
• U.S. Gulf Coast refineries remain technically suited for Venezuelan heavy crude but constrained by sanctions.

Verification

• No officially declared maritime blockade announced.
• No confirmed new oil supply disruption impacting global markets as of early January 2026.