Venezuelan Crude Oil Prices in US Ports Lower Than Other Countries’
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From 2023 too May 2025, Venezuelan crude oil landed in US ports at a significantly lower cost compared to oil from other nations, according to price reports.
Price reports indicate that Venezuelan oil was priced lower than other oil barrels purchased by the united States between 2023 and 2025.
Data shows that between 2023 and 2024,the cost of landing Venezuelan crude in US ports was between 22% and 24% lower than the cost of oil barrels the US bought from other countries.
In 2023,the average landing price for Venezuelan crude was US $67.63. This was close to the price of Canadian oil but less than the US $88.85 for Nigerian oil, US $84.19 for Saudi Arabian oil,US $72.44 for Mexican oil, and US $76.70 for Colombian oil.
2024 Price Comparison
In 2024, Venezuelan crude averaged US $66.97. Canadian crude was sold for about a dollar more, while Colombian crude cost nine dollars more, as did Saudi Arabian crude.
“The cost of landing of Venezuelan crude in US ports was between 22% and 24% lower in relation to the oil barrels than the US bought to other countries.”
2025 Prices until license Cessation
Until May 2025, when General License No. 41 of the Office of Foreign Assets Control of the Department of Treasury (OFAC) was terminated, allowing Chevron to conduct operations in Venezuela, the price of Venezuelan crude in US ports was US $64.46. During this period, Colombian oil was priced at US $68, Canadian oil at US $65.13, and Nigerian oil at US $76.14, according to Petroguía.
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