The Daily Journal.- Venezuela’s oil production has surpassed 1.23 million barrels per day (bpd), reaching its highest level since February 2019, acting President Delcy Rodríguez reported.
“Amid the emergency, our oil production did not stop. Today, it exceeds 1.23 million barrels per day, its highest level since February 2019,” Rodríguez said in an address to the nation marking two months since the earthquakes struck north-central Venezuela.
The figure represents a 29.8% increase from the level reported at the beginning of 2026. However, production remains well below the levels Venezuela recorded before its oil industry collapsed.
For the Venezuelan economy, higher production directly supports foreign currency generation and fiscal revenue, as the country remains highly dependent on crude oil exports.
Rodríguez also said her administration has signed 50 strategic oil and gas agreements that, according to her, will bring new investment to more than 76 hydrocarbon production areas. However, the government has not disclosed the total amount of committed investment or the details of all the announced contracts.
