Managed Export Plateau

Venezuela's total exports remain close to the current 1.08 million bpd level as higher U.S.-bound flows partly offset weaker shipments to China, Cuba, and sanctioned intermediaries. Washington preserves the carve-outs that protect Chevron-linked cargoes while maintaining pressure on non-U.S. buyers.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.