Dec 5, 2025 · Venezuela sits on more oil than Saudi Arabia, Russia, the United States and every other country. Yet, it produces and sells only about 1 percent of the crude the world is using.

1 day ago · Venezuela has begun shutting in Orinoco Belt wells as U.S. enforcement actions restrict exports, overwhelm storage, and squeeze PDVSA’s ability to move and dilute extra heavy crude.

2 days ago · Venezuela started shutting wells in a region that holds the world’s largest deposits of oil in the face of a blockade by the Trump administration meant to financially squeeze the nation. …

6 days ago · Venezuela Tensions: Oil prices remain low despite rising US-Venezuela tensions, as global supply is expected to outweigh demand in 2025.

Sep 4, 2025 · Estimated at 303 billion barrels (Bbbl) as of 2023, Venezuela is home to the largest known reserves of oil. Saudi Arabia ranks second with 267.2 Bbbl, followed by Iran at 208.6 Bbbl and …

U.S. President Donald Trump's announced blockade on sanctioned Venezuelan oil could lead to shortages of food, fuel, and other basic goods in the Latin American nation.

Sep 3, 2025 · Crude and fuel exports from Venezuela reached their highest average since November following a U.S. license granted to producer Chevron and larger cargoes shipped to main customer, …

Feb 8, 2024 · Most of Venezuela's proven oil reserves are extra-heavy crude oil from the Orinoco Belt. The extraction of extra-heavy crude oil requires a higher level of technical expertise, which …

Aug 18, 2025 · Venezuela’s oil production has steadily recovered after hitting a decades-low of 350,000 bpd in the second half of 2020. However, the lack of access to sorely needed investments has seen …

Latest news on Oil in Venezuela, covering production, PDVSA, sanctions, reserves, petroleum industry, crude exports and economic impact. Venezuela possesses the world's largest proven oil reserves, …