The Daily Journal.- Venezuela increased its oil production to 1.15 million barrels per day in September, according to the monthly report that the Organization of the Petroleum Exporting Countries (OPEC) released on Tuesday.
OPEC data show steady growth over the past three months. Production rose from 1.125 million barrels per day in July to 1.133 million in August and 1.150 million in September, representing a cumulative increase of 25,000 barrels per day over that period.
Between August and September alone, oil output increased by 17,000 barrels per day, or approximately 1.5%.
The figures from the oil-producing group reveal a 22.2% increase compared with the end of 2025, when production stood at 941,000 barrels per day.
Recently, Venezuela’s acting president, Delcy Rodríguez, announced that the Venezuelan government is negotiating 44 additional oil-sector agreements to complement the 61 agreements that state-owned Petróleos de Venezuela (PDVSA) has already signed.
Rodríguez did not identify the companies involved or provide details about the terms or economic scope of the new agreements.
The strategy to open up Venezuela’s oil sector includes an agreement that Venezuela and the United States signed in late August to develop 17 oil fields containing one-fifth of the country’s proven crude oil reserves.
The agreement grants North American Blue Energy Partners (NABEP) economic and governance rights. Under the arrangement, the U.S. Department of War’s Office of Strategic Capital holds a 35% equity stake in NABEP’s parent company. In comparison, the State Department has the right to purchase 20% of the oil production from the company’s current and future fields at cost.
