HeadlinesBriefing favicon HeadlinesBriefing.com

Venezuela Oil Output Set to Surge 50% Next Decade

Bloomberg Markets •
×

Venezuela's oil production could rise 50% over the next decade following Nicolas Maduro's removal and improved relations with the US, according to energy consultant Enverus. The country's crude output has been severely constrained by years of economic crisis and international sanctions.

Maduro's departure marks a potential turning point for Venezuela's energy sector. US sanctions that crippled exports and investment are expected to ease. This creates opportunities for foreign companies to return and help rebuild production capacity that once made Venezuela a top global supplier.

Industry experts remain cautious about timeline and execution risks. Infrastructure decay, lack of investment, and political uncertainty could slow recovery. However, if conditions stabilize, Venezuela's heavy crude reserves could attract renewed international interest and reshape global energy markets.