The overall economic growth of Venezuela heavily depends on the export of oils, which is why this global commodity remains the backbone of its export earnings. In contrast to the growing global acquisitions, the manufacturing units have introduced divergent variants in the global supplies for a gradual easing of sanctions by countries in order to allow the nations to trade and have easy access to the international markets for its global expansion.

The notable improvement in the country’s oil refineries and the continuous evolution of the extracting methods have indulged Venezuela in exporting crude petroleum worth 80 billion US dollars in 2024. The continuous implementation of different subsidies and tactics over the modernization of technology used in natural oil reserves has been recording a pivotal growth of the annual GDP value countering the export valuations depending upon the global demands.

The Leading Variants of Crude Petroleum Exported From Venezuela in 2024

Accompanied by the growing global demands, the automation of the technologies used in the oil reserves for extracting different energy essentials have introduced divergent variants of crude petroleum in the global supplies. According to the Venezuela Export Data, the top 10 crude petroleum variants exported from the nation in 2024 are,

1. Heavy Crude Oil – Export trade value of Heavy Crude Oil from Venezuela in 2024 – 25 billion US dollars.

2. Extra-heavy Crude Oil – Export trade value of Extra-heavy Crude Oil from Venezuela in 2024 – 19 billion US dollars.

3. Light Crude Oil – Export trade value of Light Crude Oil from Venezuela in 2024 – 15 billion US dollars.

4. Medium Crude Oil – Export trade value of Medium Crude Oil from Venezuela in 2024 – 10 billion US dollars.

5. Synthetic Crude Oil – Export trade value of Synthetic Crude Oil from Venezuela in 2024 – 9 billion US dollars.

6. Condensate – Export trade value of Condensate from Venezuela in 2024 – 7 billion US dollars.

7. Ultra-light Crude Oil – Export trade value of Ultra-light Crude Oil from Venezuela in 2024 – 6 billion US dollars.

8. Jet Fuel – Export trade value of Jet Fuel from Venezuela in 2024 – 5 billion US dollars.

9. Liquefied Petroleum Gas – Export trade value of Liquefied Petroleum Gas from Venezuela in 2024 – 4 billion US dollars.

10. Sour crude oil – Export trade value of Sour crude oil from Venezuela in 2024 – 3 billion US dollars.

The Top Trading Partners of Venezuela for Crude Petroleum in 2024

Depending upon the crucial pricing strategies offered by different investors and the tariff rates over the traded goods accompanied by the closer geographical proximity of the targeted destination; Venezuela chooses its reasonable trade estate for global supplies. As per the Venezuela Trade Data, the top 10 export trade partners of the nation with which it trades most of the crude petroleum in 2024 are,

1. United States – As per the USA Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 – 22 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Merey Heavy Crude Oil
2. Bachaquero Medium Crude Oil
3. Hamaca Extra-Heavy Crude Oil
4. Zuata Sweet Synthetic Crude
5. Michael Light Crude Oil

2. China – As per the China Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 - 18 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Heavy Sour Crude Oil
2. Light Sweet Crude Oil
3. Extra-Heavy Crude Oil
4. Diluted Bitumen
5. Synthetic Crude Oil

3. India – As per the India Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 - 14 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Merey Crude
2. Bachaquero Medium Crude
3. Santa Barbara Heavy Crude
4. Tia Juana Light/Medium Blend
5. Morichal Lago Medium Crude

4. Singapore – As per the Singapore Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 - 11 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Heavy Crude Oil
2. Extra-Heavy Crude Oil
3. Light Crude Oil
4. Medium Crude Oil
5. Synthetic Crude Oil

5. Turkey – As per the Turkey Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 – 8 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Santa Barbara Crude
2. Bachaquero Crude
3. Merey Crude
4. Mesa Crude
5. San Joaquin Crude

6. Netherlands – As per the Netherlands Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 – 7 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Heavy Crude Oil
2. Medium Crude Oil
3. Extra-Light Crude Oil
4. Virgin Naphtha
5. Condensate

7. Cuba – As per the Cuba Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 - 6 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Crude Oil
2. Fuel Oil
3. Gasoline
4. Diesel
5. Propane/Butane

8. Brazil – As per the Brazil Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 - 5 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Merey
2. Boscan
3. Bachaquero
4. Santa Barbara
5. Tia Juana

9. Chile – As per the Chile Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 – 4 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Heavy Crude Oil
2. Extra-Heavy Crude Oil
3. Light Crude Oil
4. Synthetic Crude Oil:
5. Naphtha

10. Japan – As per the Japan Import Data, the valuation of the crude petroleum exports from Venezuela in 2024 – 3 billion us dollars.

TOP EXPORTED CRUDE PETROLEUM VARIANTS

1. Merey Crude
2. Hamaca Crude
3. Bachaquero Crude
4. Tia Juana Light
5. Morichal Crude

FAQ’S

Que. What is the top exported crude petroleum of Venezuela in 2024?
Ans. Heavy crude oil is the leading variant of crude petroleum export of Venezuela in 2024.

Que. Who is the leading export trade partner of Venezuela for crude petroleum export in 2024?
Ans. The United States leads the top export trade partners list of Venezuela for crude petroleum in 2024.

Que. What is the export trade value of crude petroleum from Venezuela in 2024?
Ans. The annual export valuation of crude petroleum from Venezuela in 2024 stood up at 80 billion US dollars.

Que. Where can you get a detailed trade analysis of the crude petroleum export of Venezuela in 2024?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of the crude petroleum export of Venezuela in 2024.

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