The Venezuelan state-run oil producer PDVSA’s oil export declined by 32% to reach 1 mb/d in 2019, as the company's crude oil production collapsed to around 1 mb/d on average between January and November 2019 (down from around 3 mb/d in 2012) and as the United States decided to sanction crude sales from Venezuela.
Since April 2019, the Venezuelan government cannot sell crude oil to the United States without sanctions. Penalties are imposed on PDVSA or on any other company that is more than 50% controlled by the Venezuelan government, and any offshore (i.e. not based in the US) firm is prohibited to purchase crude oil from PDVSA, if it is using US dollars to buy it or if it is closing a transaction via an US-based financial institution.
In 2019, Venezuela sold its oil mostly to China (32%), India (22%), Europe (12%) and Cuba (7%). In term of customers, Venezuelan oil was bought by Rosneft (33.5%), China National Petroleum Corp (CNPC) (11%) and Cubametales (7%).