With a two-month "quarantine" placed on Venezuelan oil by the Trump administration in a foreign policy move called "gunboat diplomacy," new data estimate that roughly $900 million worth of crude is currently loaded on tankers, unable to depart Venezuela due to the U.S. blockade.
"Based on our visual analysis from both shore and space, we estimate that there are around 17.5 million barrels of crude oil floating onboard tankers in Venezuela which are unable to depart due to the ongoing US blockade," independent research Tanker Trackers wrote on X. "That's around $900M of oil."
Tanker Trackers responded to a question on X about how long it would take for land-based oil and gas operations in Venezuela to become "clogged" due to the blockade. The research firm noted, "Chevron is still importing from Venezuela, and it doesn't appear that will stop anytime soon, given they are granted a waiver."
Here's the conversation:
Current tankers sailing in the Caribbean with destinations to the U.S. and/or China.
Last week, the Trump administration directed U.S. military forces to enforce a two-month "quarantine" on Venezuelan oil exports, signaling ramped-up sanctions enforcement.
According to a U.S. military official cited by Reuters, while military options remain available, the near-term strategy prioritizes economic pressure through strict enforcement of sanctions to pressure Venezuela.
Operationally, the U.S. Coast Guard has intercepted two Venezuelan dark fleet tankers and forced a third to retreat into the Atlantic Basin.
Our assessment: The gunboat diplomacy posture is designed to disrupt Venezuela-Cuba-China oil flows, tighten financial pressure, and accelerate regime instability in both Caracas and Havana.
China is furious and has wargamed a potential conflict with the U.S. in the Caribbean. Okay Beijing ..
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