Brent D. Yacobucci
On January 3, 2026, the U.S. military executed a mission culminating in the arrest of President Nicolás Maduro (2013-2026). On January 6, President Trump announcedthat the United Sates would sell 30-50 million barrels of seized Venezuelan oil; on January 7, the Department of Energy announced that Energy Secretary Wright was working with “the Interim Venezuelan Authorities” to execute the sale and to modernize Venezuela’s energy sector. Secretary of State Rubio reportedly noted that an Administration focus is limiting the involvement of U.S. foreign adversaries. Venezuela’s vice president and oil minister, Delcy Rodriguez, has assumed the role of acting president.
Venezuela’s oil sector declined over decades. When Maduro’s predecessor, Hugo Chávez, took office in 1999, Venezuela’s crude oil production was approximately 3 million barrels per day (mbd). When he died in 2013, production was 2.7 mbd. During Maduro’s presidency, crude production declined further, dropping below 0.5 mbd in 2020 before rising again; by August 2025, it was just above 1.0 mbd.
No comments:
Post a Comment