Oil Tankers Return to Venezuela Amid Negotiations with Washington for New Supply Contract

A fleet of oil tankers returned to Venezuelan waters on Saturday after having departed covertly in early January, as reported by the state oil company PDVSA.

Estimates suggest the fleet includes approximately 12 loaded vessels and at least three empty ships, which have navigated in defiance of a ban imposed by the U.S. administration since mid-December. This ban has significantly reduced Venezuela's oil exports to extremely low levels.

As U.S. authorities monitor these movements, they confirmed that Venezuela's next step involves organizing crude oil exports under a $2 billion supply contract currently being negotiated between Caracas and Washington. This effort aims to restructure the oil relationship between the two parties following months of tensions and sanctions.