The Daily Journal — Acting President Delcy Rodríguez announced that Venezuela’s oil sector expanded by more than 9% during the second quarter of the year. She added that the industry also posted year-over-year growth exceeding 10% compared with the same period in 2025.
“The hydrocarbons sector remains active and continues to recover. During this second quarter, the recovery exceeds 9% and surpasses 10% compared with the same period last year,” Rodríguez said alongside members of the economic cabinet.
According to the Central Bank of Venezuela (BCV), the oil sector contracted sharply in the first quarter of 2026, posting a 2.12% decline, a significant drop from the 17.17% growth recorded in the first three months of 2025.
That downturn weighed on the broader economy. BCV figures show that Venezuela’s gross domestic product (GDP) grew by just 2.51% during the first quarter of 2026.
