Venezuela's oil exports grew 14% in April to 1,23 million barrels per day, the highest level in over seven years. This was fueled by increased sales to India, Europe and the United States. Shipping data and documents provided by state-owned PDVSA were released on Friday.

In recent months, the South American nation has been draining its oil?inventory and recovering crude production following the 'U.S. In January, the 'U.S.' captured President Nicolas Maduro and a?supply agreement was signed between their governments. President Donald Trump and Venezuela's interim president Delcy Rodriguez.

This agreement, along with U.S. licensing that eased sanctions against the country, allowed PDVSA joint-venture and trading partners, including Vitol, Trafigura, to receive cargoes for sale to refiners throughout the U.S.A., Europe, and Asia.

According to data based on tanker movement, in April, a total 66 vessels left Venezuelan waters. In March, only 61 vessels carried 1,08 million bpd of crude and refined product.

The average for April is the highest volume since late 2018, just before the 'U.S. The energy sector of Venezuela was subject to sanctions. Reporting by Marianna Pararaga and Mircely Guianipa. Nathan Crooks, Mark Potter and Mark Potter edited the report.

(source: Reuters)