Venezuela crude oil output reaches 1.2 million barrels per day
Interfax
Venezuela's state-run oil company PDVSA reported that the country's daily crude oil production has reached 1.2 million barrels. The milestone is seen as a positive signal for the industry's recovery after years of decline due to sanctions and economic crisis. PDVSA has not provided details on what drove the increase or plans for maintaining the growth.
Venezuela's state oil company PDVSA announced on May 4, 2026, that the country's daily crude oil production has reached 1.2 million barrels.
The announcement comes as Venezuela's oil industry struggles to recover from a prolonged decline caused by sanctions and economic turmoil. The 1.2 million barrels per day milestone is seen as an encouraging sign for the South American nation's oil output.
Venezuela was once one of the world's largest oil producers, but production has fallen sharply in recent years. Hitting the 1.2 million barrels per day mark suggests initial efforts to restore output are yielding results.
PDVSA has not yet disclosed details on the factors behind the output increase or plans to sustain this growth in the months ahead.
