Crude Oil, Refined Products, Maritime & Shipping, Fuel Oil
March 30, 2026
Venezuelan oil shipments to Cuba resume as US signals softer stance
By Sheky Espejo
Editor:
HIGHLIGHTS
Venezuela ships 1 million barrels to Cuba in March
US signals it will not oppose Cuban fuel imports
Mexico explores restarting oil exports to island
Venezuelan oil shipments to Cuba resumed in March after a three-month halt, according to S&P Global Commodities at Sea data.
The shipment comes as the US pressure on the island may be easing.
Venezuela shipped 1 million barrels to Cuba in the week ended March 27, marking the first cargoes since December, when it sent 598,300 barrels, CAS data shows. The Venezuelan crude comes after the arrival of a Russian tanker earlier in March carrying 732,400 barrels of crude.
Cuba relies heavily on imported crude and fuel oil for power generation, with domestic output covering only a fraction of demand, leaving the island vulnerable to shifts in geopolitics and external supply.
Recent developments, however, suggest a shift in US policy on the island. President Donald Trump on March 29 indicated he would not oppose fuel shipments to Cuba, including from Russia.
US Energy Secretary Chris Wright said March 24 during an appearance at CERAWeek by S&P Global that the US is not blockading Cuban energy imports.
Mexico, which had emerged as a key secondary supplier, has yet to resume shipments but is positioning for a return. President Claudia Sheinbaum said March 30 that her government was exploring mechanisms to restart oil exports to Cuba, although she did not provide a timeline or details.
Mexico shipped 800,400 barrels to Cuba in January 2025 and then four cargoes of roughly 500,000 barrels in August, September, October and December, the CAS data shows. No cargoes have been recorded so far in 2026.
