More than 500,000 barrels of Venezuela’s daily oil output are being sent to refineries across the United States, according to US Under Secretary of Energy Kyle Housetveit. He disclosed the figure at an energy conference in Texas on August 19, 2026. Venezuela produces about 1.25 million barrels of oil per day, meaning exports to the United States account for a substantial share of its production.

Housetveit said the US refineries receiving the crude were largely designed to process Venezuela’s heavy crude oil. He also said the United States is assisting Venezuela in increasing oil production and that both countries are benefiting from the process.

Venezuela holds the world’s largest oil reserves, but long-running investment shortages and US sanctions had limited its contribution to global demand. Oil production and exports have begun rising again since recent political changes and the formation of an interim government. International groups and research organizations have raised concerns over transparency in the use of oil-sale revenue and the exclusion of the main opposition party from talks with the interim government.