Venezuela Oil Production 2026 | How Sanctions Affect Economy
Автор: The AgriLife
Загружено: 2026-01-15
Просмотров: 22
Описание:
Venezuela currently produces approximately 800,000 to 900,000 barrels of oil per day, down from a previous high of 3 million barrels per day due to sanctions and technical issues.
Most oil comes from the Orinoco Belt in eastern Venezuela, while some is extracted from Zulia state and around Lake Maracaibo. The state oil company PDVSA manages extraction and refining, employing around 70,000 workers, down from over 150,000 previously.
Venezuela exports most of its oil to China, with limited supplies to the US, India, and Cuba under special arrangements. Prices are tied to global markets, usually $70–$85 per barrel, but sanctions often force sales at lower prices.
Despite massive oil reserves, Venezuela continues to struggle economically due to production drops, sanctions, and mismanagement. This video explains the current oil situation and its impact on the country’s economy.
#VenezuelaOil
#EconomicCrisis
#GlobalOilMarket
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