The Daily Journal. — Recent statements from U.S. Secretary of State Marco Rubio regarding Venezuelan oil exports to the American market have raised questions when compared with production figures published by the Organization of the Petroleum Exporting Countries (OPEC).
During a public appearance in which he reviewed Washington’s policy toward Venezuela, Rubio stated that the country’s economic recovery follows a framework built around the phases of “stabilization, recovery, and transition.”
The chief U.S. diplomat also argued that Venezuela’s oil industry is undergoing professionalization and stated that “since January 3 of this year (…) more than 10 million barrels of Venezuelan oil reached the United States.”
However, production data compiled from OPEC secondary sources indicate that Venezuela maintained production near one million barrels per day during the first four months of 2026.
According to those records, Venezuelan production ranged between 920,000 and 950,000 barrels per day (bpd) in January and February. Production later climbed to 985,000 bpd in March and reached 1.031 million bpd in April, crossing the one-million-barrel-per-day threshold for the first time in several years.
Using those volumes as a reference, the country’s cumulative production over slightly more than 100 days exceeds 100 million barrels. As a result, the figure Rubio mentioned represents a relatively small share of total output during that period.
Rubio’s remarks did not specify whether the 10 million barrels refer to total exports to the United States, a specific category of shipments, or a different time frame.
Control of Oil Revenues
Beyond export figures, Rubio defended Washington’s framework for supervising revenue generated through Venezuelan crude sales.
According to his explanation, Venezuelan oil no longer moves through opaque mechanisms or intermediaries linked to the so-called “ghost fleet.” Instead, companies sell the crude through formal channels and at international market prices.
“They are selling oil on the market at market rates, the money goes into an account in the United States controlled and monitored by the Treasury, audited by KPMG. And for the first time, the money is not disappearing; it benefits the Venezuelan people,” Rubio stated.
