U.S. Venezuelan Crude Imports Jump to 603,000 Barrels a Day in One Week
Key Facts
The U.S. average for Venezuelan crude imports was 603,000 barrels a day in the week ended November 6, 2026, compared with 60,000 in the corresponding week of 2025, according to data from the U.S. Energy Information Administration. In the same week, imports from Saudi Arabia fell to 291,000 barrels a day, from 349,000 a year earlier, while shipments from Nigeria declined to 12,000 from 136,000. Year-over-year comparisons show Saudi imports down about 17% and Nigerian imports down 91%. On a weekly basis, Venezuelan imports rose from 555,000 barrels a day in the week ended October 30. The figures put Venezuela at the forefront of the most notable shift among the three suppliers during the week, while country-level data remain preliminary.
The preliminary country table data show a broader supplier ranking for the week ended November 6: Canada led with supplies of 4.043 million barrels a day, followed by Venezuela at 587,000, then Saudi Arabia at 247,000, while Nigerian supplies totaled 47,000 barrels a day. These figures differ from the weekly import series, which recorded 603,000 barrels a day from Venezuela, 291,000 from Saudi Arabia and 12,000 from Nigeria for the same period. The Energy Information Administration describes the country table as preliminary and says some data are estimated. Supplier figures therefore remain subject to revision, and a comparison of one week alone is not enough to establish a lasting shift in market shares. The year-over-year declines for Saudi Arabia and Nigeria also apply to one particular week, not to the countries’ total exports to the United States over a longer period.
In the aggregate, the U.S. average for crude imports was 6.698 million barrels a day in the week ended November 6, up from 5.222 million in the corresponding week of 2025. The volume of crude processed by refineries also rose to 17.047 million barrels a day, compared with 15.973 million a year earlier. This increase in refinery inputs is consistent with the Energy Information Administration’s explanation for the rise in Venezuelan crude imports during 2026, as it linked supplies to strong demand from U.S. refineries. The agency said many Gulf Coast refineries can process Venezuela’s heavy, high-sulfur crude, making this grade suitable for their operating needs. It also said the easing of U.S. government restrictions on buying oil from Venezuela supported import growth.
Data from previous months show an upward trajectory in Venezuelan crude imports during 2026; they started the year at 200,000 barrels a day, then averaged 701,000 in July, the highest since May 2017, before falling to 655,000 in August. The Energy Information Administration attributed the increase in imports to strong demand from U.S. refineries, along with higher global refining margins and the easing of U.S. restrictions on Venezuelan purchases. In its November outlook, the agency said U.S. refining margins had remained elevated after damage to refineries in the Middle East and Russia reduced exports of refined products available on the global market. It added: "We expect U.S. refining margins to remain elevated for the rest of the year and most of 2027." The outlook places refinery demand in the context the agency cited for crude flows, without settling the trajectory of imports from any particular supplier.
On domestic supply, the Energy Information Administration forecast U.S. crude production would rise to 14.3 million barrels a day in 2027, up 3% from the expected 2026 record of 13.9 million. At the same time, the agency said U.S. commercial crude inventories fell 14.1 million barrels in October, as imports declined and exports rose, and dropped below their lowest level in five years. These indicators add context for a market that faced higher refinery crude consumption during the week covered by the data, alongside a change in the import mix. The agency is scheduled to publish an update to the preliminary country-level import table on November 18, 2026. The next release will allow the weekly figures to be reviewed and compared with current estimates.