Institution: It will take decades for Venezuela's oil production to return to peak levels
2026-09-01 08:29:22
According to CoinMeta, as reported by the energy intelligence company Rystad Energy, it will take several decades for Venezuela's oil production to return to its peak level of over 3 million barrels per day. Although the agreement with the United States has led to a recent increase in production, it is expected that the additional oil production will initially come from existing wells, increasing from about 157,000 barrels per day in 2027 to 680,000 barrels per day by 2030. The production from these existing oil fields is expected to reach 740,000 barrels per day in the early to mid-2030s. Rystad predicts that by combining existing and new projects, Venezuela's daily oil production will increase to 2.3 million barrels by 2035 and exceed 3 million barrels by 2050. To achieve this goal, an investment of about 85 billion US dollars will be required from 2027 to 2040.
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.
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