Venezuela just took a back seat to Colombia in the US oil market for the first time on record

As operations at Venezuela's state-run oil company PDVSA fall apart, the country is losing key market share. Venezuela fell behind Colombia 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 Colombia in oil exports to the US, data going back to 1993 showed.  Colombia exported 477,000 barrels per day to the US in the second month of 2018, the EIA said. The number of Venezuelan shipments to the US dropped 10.6% that month to an average of 472,000 barrels per day. More…