Venezuelan oil has registered in recent years the lowest price among raw imported by the United States. In 2023, the average landing was at US $ 67.63 per barrel, a level similar to that of the Canadian crude, although well below Nigerian oil, which reached US $ 88.85, of the Saudi Arab, which was 84.19, of the Mexican, with 72.44, and the Colombian, which averaged US $ 76.70.
During 2024, the price of Venezuelan oil decreased slightly to US $ 66.97, staying as the most economical against its competitors. The Canadian was a dollar above, while the Colombian was around US $ 75.97, Saudi Arabic 82.97 and the Mexican around 71.97.
By 2025, until May, the price of Venezuelan crude continued in the same trendbeing at US $ 64.46 per barrel, compared to the US $ 68 of the Colombian, the 65,13 of the Mexican and the 76.14 of the Nigerian.
Together, the data reflects that between 2023 and 2024 Venezuelan oil remained between 22% and 24% cheaper than the rest of the raw acquired by the United Statesconsolidating its position as the lowest cost in the US market.
