Caracas, (EFE) — U.S. Chargé d’Affaires John Barrett said Monday that Venezuela’s oil exports have reached 1.25 million barrels per day (bpd) — their highest level in seven years — and credited the milestone to the three-phase plan being implemented by the Trump administration following the capture of Nicolás Maduro.
“Venezuela’s oil exports have reached 1.25 million barrels per day, the highest level in seven years, and it is the result of the three-phase plan of Secretary [Marco] Rubio and President Trump,” Barrett wrote on the U.S. Embassy’s official X account.
Venezuelan petroleum exports had averaged between 800,000 and 900,000 bpd through the close of 2025, according to estimates.
Barrett added that “continued collaboration between the interim authorities and private investors” is driving “economic recovery and greater prosperity for both the American and Venezuelan people.”
The Three-Phase Framework
The plan Barrett referenced was established by Washington following Maduro’s capture on January 3 and consists of three sequential stages: stabilization, recovery, and democratic transition.
OPEC data published in a May report corroborates the trend. Venezuela’s crude output rose 22.9% between January and April, reaching an average of 1.136 million bpd in April, up from 1.095 million bpd in March. Venezuelan Hydrocarbons Minister Paula Henao separately stated in late May that production had already reached 1.2 million bpd.
Investment Reforms and Foreign Capital
Since Maduro’s detention — and amid Washington’s sharp interest in Venezuelan oil — acting President Delcy Rodríguez has pushed a package of reforms aimed squarely at the hydrocarbons sector, loosening restrictions to attract foreign investment.
The stakes are significant: Venezuela holds the world’s largest proven crude oil reserves at roughly 303 billion barrels, representing 17% of the global total. Most of those reserves are concentrated in the Orinoco Belt in the form of extra-heavy crude, which requires advanced technology and major capital investment to extract.
$22 Billion Projected for 2026
A UN economic projection on Venezuela published in late April estimates the country will generate more than $22 billion in oil export revenues in 2026 — a more than 50% jump from the $14.7 billion recorded last year.
