Venezuela moves to reverse output cuts with US-controlled resumption of oil exports

The country's main oil region, the Orinoco Belt, saw a reduction to some 410,000 bpd compared with 675,000 bpd in late November, according to the figures. PDVSA has yet to confirm that the supply deal for the 50 million barrels has been finalised.

The state company had worked to prevent deeper output reductions that might be difficult to reverse, given that production facilities at some oilfields are dilapidated due to lack of maintenance. PDVSA and the White House did not immediately reply to requests for comment.

The vessels on Tuesday were heading north from Venezuela's coast to the Caribbean, LSEG ship tracking data showed. This is where many oil companies including traders, producers and refiners lease storage tanks.