Venezuela’s oil exports to the U.S. and China climbed 25% in the two months to December 31 vs. the same period a month earlier, Panjiva data shows. Only 4% points of that came from pricing, with the remainder due to higher volumes shipped. That may not continue in January due to high shipping costs. Total exports increased 17% on a year earlier in December, but imports fell 20.0% as purchases of construction equipment from China weren’t repeated. That may reverse after a series of development accords were signed between the two countries.