Story perspectives

Venezuela's Oil Production Rises to 1.1M BPD Amid Eased Restrictions

3/27/2026

Summary

Story summary

Venezuela's oil production rose to about 1.1 million barrels per day (bpd) in March 2025, up from 942,000 bpd in January 2025, according to state oil company PDVSA.
The increase follows easing U.S. restrictions and improved access to processing materials.
However, production remains well below the historical peak of over 3 million bpd.
The sector faces challenges requiring substantial foreign investment and infrastructure upgrades to sustain further growth.

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Story summary

Venezuela's oil production rose to about 1.1 million barrels per day (bpd) in March 2025, up from 942,000 bpd in January 2025, according to state oil company PDVSA.
The increase follows easing U.S. restrictions and improved access to processing materials.
However, production remains well below the historical peak of over 3 million bpd.
The sector faces challenges requiring substantial foreign investment and infrastructure upgrades to sustain further growth.