Story perspectives

Trump's Sanctions Slash Venezuela's Oil Exports by 50%

1/1/2026

Summary

Story summary

The blockade by the administration of U.S. President Donald Trump forces Venezuela to shut oil wells in the Orinoco Belt, sharply reducing exports.
Petróleos de Venezuela, S.A. (PDVSA) plans to cut production by at least 25% to 500,000 barrels per day.
December exports fell to about half of November's average, with tanker activity limited by U.S. sanctions.
PDVSA states it remains committed to maintaining oil production and exports despite challenges.

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Story summary

The blockade by the administration of U.S. President Donald Trump forces Venezuela to shut oil wells in the Orinoco Belt, sharply reducing exports.
Petróleos de Venezuela, S.A. (PDVSA) plans to cut production by at least 25% to 500,000 barrels per day.
December exports fell to about half of November's average, with tanker activity limited by U.S. sanctions.
PDVSA states it remains committed to maintaining oil production and exports despite challenges.