Business US official says Indian private companies have stopped importing oil from sanctions-hit Venezuela Updated : March 22, 2019 11:50 AM IST Venezuela produces around 1.57 million barrels of oil per day, half of what it produced two decades back. With the US stopping imports from Venezuela, PDVSA is seeking to retain buyers in other big consuming countries such as China and India. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.