Oil sector analysts indicate that production in Venezuela could increase to 1.5 million barrels per day by the end of 2026 if the growth rate recorded since 2023 is maintained.

According to petroleum engineer and consultant Germán Márquez, professor of Hydrocarbons at the Central University of Venezuela, “recent figures support this possibility.”

OPEC’s October 2025 report placed Venezuelan production at 1,132,000 barrels per day (bpd), representing an increase of 132,000 bpd compared to the end of 2024. “This progress equates to annual growth of approximately 14% and extends a recovery trend that has now lasted five consecutive years.”

The specialist and professor believes that if the average growth rate of the last two years is maintained — an additional 15,000 barrels per day (bpd) per month — “production could close 2025 at around 1,090,000 bpd and reach approximately 1,170,000 bpd in the short term,” reaching the 1.5 million barrel mark in 2026.

Among the reasons for this increase, Márquez points to greater operational continuity and Venezuela’s ability to place crude oil in alternative markets, “which has avoided logistical bottlenecks and shutdowns associated with a lack of storage or export restrictions.”

M.Pino

Source: finanzasdigital

(Reference image source: WORKSITE Ltd. on Unsplash)

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