# U.S. Oil Imports From Venezuela Hit 9-Year High

> Chevron bets $7 billion on Venezuela's oil rebound as U.S. imports surge to 782k barrels/day
- Title: U.S. Oil Imports From Venezuela Hit 9-Year High | Shortify
- Summary: Chevron bets $7 billion on Venezuela's oil rebound as U.S. imports surge to 782k barrels/day Chevron could more than double Venezuelan production while…
- Keywords: venezuela, chevron, u.s. oil imports, orinoco belt, refining, strategic petroleum reserve, nfl, Oil, Imports, Hit, 9-Year, High
- Source: 24/7 Wall St. — https://247wallst.com/investing/2026/09/21/u-s-oil-imports-from-venezuela-just-exploded-to-a-9-year-high-chevron-could-be-the-biggest-winner
- Author: Rich Duprey
- Published: 2026-09-21T15:40:41+00:00
- Read time: 1 min
- Topics: venezuela, chevron, u.s. oil imports, orinoco belt, refining, strategic petroleum reserve, nfl
## Venezuela Oil Imports Surge
U.S. imports of Venezuelan crude jumped 183,000 barrels per day to 782,000 barrels per day in the week ended Sept 11, the highest since August 2017
## 6-Month Import Explosion
Venezuelan crude imports increased 237% over six months, reaching a three-month average of 626,000 barrels per day
## Chevron's Venezuela Play
Chevron announced updated agreements for Venezuelan joint ventures including additional Orinoco Belt acreage and plans to invest $7 billion over five years
## Production Boost
Chevron expects Venezuelan production to more than double to approximately 600,000 barrels per day with production costs below $20 per barrel
## Refining Advantage
Chevron's U.S. refineries processed a record 1.07 million barrels per day at 97% utilization
## Strategic Petroleum Reserve
President Trump plans to use Venezuelan oil to refill U.S. Strategic Petroleum Reserve near depletion levels
## Key takeaway

Chevron could more than double Venezuelan production while leveraging U.S. refining capacity