Venezuela’s Oil Production Sees Significant Growth Amid Market Challenges
Venezuela’s oil production surged to an average of 1,000,084 barrels per day in July 2025, marking a 16.8% increase compared to the same month last year, reports 24brussels.
This represents an increase of 15,000 barrels from June and signals the country’s capacity to maintain production above 1 million barrels throughout 2025. This recovery comes after Venezuela faced years of declining output and operational challenges attributed to what Caracas describes as an economic war waged by the United States and its allies.
In terms of year-on-year performance, the latest figures indicate an increase of 156,000 barrels compared to July 2024. The average production from January to July 2025 also reflects a robust 18.4% rise over the same timeframe last year, reaching 1,000,053 barrels per day.
Despite enduring sanctions hampering market access and international financing, Venezuela’s oil sector is showing signs of resilience. The price of Merey crude, the country’s primary export, climbed 2% in July, reaching US$58.14 per barrel. This stability in pricing, paired with increased production, has enabled the state-owned PDVSA to bolster export contracts and draw in foreign investment.
Venezuela aims to reaffirm its position as a dependable energy supplier in a global market characterized by uncertainty and volatility.
Sources: OPEC – Centro Internacional
