New Beginnings Reviews: Venezuela just took a back seat to Columbia in the US oil market for the first time on record

Reuters/Carlos Garcia Rawlins

Columbia exported 477,000 barrels per day to the US in February. Venezuela exported 472,000 barrels per day to the US, falling more than 10%. Venezuela has typically outpaced Columbia in volume of US crude exports.

As operations at Venezuela's state-run oil company PDVSA fall apart, the country is losing key market share.

Venezuela fell behind Columbia in volume of oil exports to the US — one of its biggest markets — in February, according to the US Energy Information Administration. This is the first time on record that Venezuela has trailed Columbia in oil exports to the US, data going back to 1993 showed. See the rest of the story at Business Insider

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