This South American country has been promoting innovations to increase its independence in oil extraction.

In its latest report, the Organization of the Petroleum Exporting Countries (OPEC) acknowledged that Venezuela has increased its crude oil production. Between March and April, Venezuelan oil output rose from 1.048 million to 1.051 million barrels per day (bpd).

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So far this year, the South American country’s average oil production has been 1.035 million bpd. This increase has occurred despite more than 900 unilateral restrictive measures imposed on Venezuela by the United States and its allies.

More specifically, the OPEC report details Venezuela’s oil production in 2025 as follows: 1.031 million bpd in January, 1.025 million bpd in February, 1.048 million bpd in March, and 1.051 million bpd in April.

In recent years, Venezuelan President Nicolas Maduro has implemented policies aimed at diversifying his country’s economy and reducing its dependence on oil revenue.

This development strategy, however, has not meant abandoning efforts to increase oil and gas production. In fact, Venezuela has been working to enhance innovations that enable sustainability and independence in oil extraction and production.

Another key priority for the Bolivarian government has been attracting foreign investment in sectors such as oil, gas and petrochemicals, with the goal of boosting the economy and ensuring industrial sovereignty.

Weeks ago, the U.S. government eliminated exemptions that had allowed foreign companies to operate in Venezuela’s oil sector and threatened to sanction them. In response, Maduro adopted measures to shield his nation’s oil sector and made it clear that the U.S. economic war will not prevent Venezuela from marketing its oil on global markets.

teleSUR/ JF

Sources: OPEC – teleSUR

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