In 2023, the United States significantly increased its oil imports from Venezuela, marking a notable deviation from recent years' trends. This rise coincided with a strategic shift in oil procurement, partially substituting Venezuelan crude for Russian supplies.

According to U.S. statistics, American companies imported Venezuelan oil in unprecedented quantities, surpassing $2.5 billion. Despite this surge, Venezuelan oil imports constituted a mere fraction—0.15%—of the total U.S. imports.

Nonetheless, for Venezuela, this surge represents a significant milestone, marking the highest volume of oil sales to the U.S. in the past five years. Notably, since mid-2019, direct purchases of Venezuelan crude by the U.S. had ceased, only resuming in 2023 under a monthly procurement arrangement.




Conversely, the regularity of U.S. oil purchases from Russia ceased in May 2022. It wasn't until the end of 2023 that the United States resumed buying modest quantities of Russian crude. American companies acknowledge that the resurgence in Venezuelan oil purchases corresponds with Washington's pivot away from Russian energy supplies.