Venezuela’s Oil Output Can Grow 30%-40% This Year, US Says

The U.S. Energy Secretary projects Venezuela’s oil production could surge 30-40% in 2026, adding 300,000–400,000 barrels per day to global supply. This forecast follows easing U.S. sanctions on Venezuela’s oil sector, allowing expanded exports amid global energy market shifts and geopolitical realignments. The output boost would mark Venezuela’s largest annual production increase in over a decade, potentially stabilizing regional energy prices and supply chains. Analysts attribute the growth to renewed foreign investment and operational improvements in Venezuela’s state-run oil infrastructure after years of decline. If realized, the increase could reshape Latin America’s energy landscape, reducing reliance on Middle Eastern imports and altering OPEC+ dynamics.