Oil loadings in Venezuela slowed on Monday as tankers altered routes or remained near local ports following new U.S. measures targeting additional vessels linked to the country’s sanctioned crude trade, according to industry sources and ship-tracking data cited by Reuters.
The disruption comes as Venezuela’s state oil company, Petróleos de Venezuela S.A. (PDVSA), continues to recover from a recent cyberattack that affected internal systems and payroll operations, complicating export logistics amid heightened geopolitical pressure.
U.S. authorities said this month that the U.S. Coast Guard detained a sanctioned supertanker carrying Venezuelan crude and attempted to intercept two other vessels earlier in December. One of those ships was reportedly empty but sanctioned, while another was fully loaded and en route to China.
Washington has not released updated public information on the status of the intercepted vessels. Last week, U.S. President Donald Trump announced a blockade on all sanctioned oil tankers entering or leaving Venezuela, expanding a pressure campaign aimed at President Nicolás Maduro’s government.
That campaign has also included increased U.S. military activity in surrounding waters, with U.S. officials citing counter-narcotics operations in the Pacific Ocean and Caribbean Sea. Caracas has rejected those claims, accusing Washington of escalating regional tensions.
Oil markets reacted to the developments, with Brent crude futures rising more than 2 percent to above $61 per barrel, while U.S. West Texas Intermediate gained roughly the same percentage. Analysts attributed the move to concerns over potential supply disruptions stemming from U.S. enforcement actions and the ongoing war in Ukraine.
Shipping data from the London Stock Exchange Group (LSEG) showed a growing number of loaded tankers remaining offshore in recent days, leaving millions of barrels of Venezuelan crude stranded at sea. Several vessels approaching Venezuelan ports reportedly changed course or paused operations while awaiting instructions from ship owners.
Traders said buyers are increasingly demanding deeper discounts and revised contract terms to compensate for the heightened risks associated with lifting Venezuelan crude under current conditions.
PDVSA has partially restored some digital systems following the cyberattack but continues to rely on manual recordkeeping, according to sources familiar with operations. The company has not fully recovered its central administrative platform, and some workers have not received salaries on time.
PDVSA and Venezuela’s oil ministry did not respond to requests for comment. Venezuelan Foreign Minister Iván Gil said on Monday that U.S. vessel seizures violate international law and amount to what he described as “acts of piracy.”
China’s foreign ministry also criticized the U.S. actions, calling the attempted interceptions a serious violation of international law. Beijing is a key destination for Venezuelan crude exports and has repeatedly opposed unilateral sanctions.
Despite the broader slowdown, Chevron, PDVSA’s primary foreign joint-venture partner, exported a cargo of approximately 500,000 barrels of Venezuelan crude to the U.S. Gulf Coast on Sunday under a license granted by Washington, according to shipping data.
Venezuelan Vice President and Oil Minister Delcy Rodríguez said Caracas has not halted deliveries to Chevron, posting video footage of maritime authorities overseeing the vessel’s departure. Data indicates Chevron has shipped seven Venezuelan crude cargoes to the United States this month, each carrying between 300,000 and 500,000 barrels.
The exports take place under a limited U.S. authorization framework tied to broader sanctions imposed by Washington and referenced in international discussions at the United Nations Security Council, though Venezuela itself is not subject to a comprehensive UN oil embargo.
