PDVSA billed 48% more revenue in March than all of January and February combined, thanks to the war in Iran
The billing of Petróleos de Venezuela (PDVSA) during March 2026 reached an amount of almost 2.5 billion dollars due to the rise in crude oil prices, caused by the war in Iran, but also by the rebound in its exports. Economic Logbook The billed income still pending collection [...]
TL;DR
- PDVSA's March 2026 revenue reached nearly $2.5 billion, a 48% increase over January and February combined.
- A 64% surge in the price of Venezuelan reference crude (Merey) and increased export volumes (over 1 million barrels per day, up 48% from February) drove the revenue growth.
- The rise in crude prices was linked to the conflict in Iran.
- PDVSA's financial resources are around $4.1 billion, comparable to the previous year.
- Payments to PDVSA are restricted by U.S. Treasury regulations, requiring deposits into sovereign fund accounts.