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Venezuela oil output seen rising toward 1.8 million bpd by 2030
Rystad Energy’s modeling points to growth from wider international operator participation and expanded capital deployment in Venezuela’s upstream sector.
OilPrice reports that Venezuela’s upstream oil sector is attracting its broadest pool of international operators and capital in decades.
The outlet attributes the expected ramp-up to established majors expanding their footprint, along with new operators entering under revised contractual frameworks.
According to OilPrice, Rystad Energy models Venezuelan crude production reaching around 1.6 million bpd, with a longer range path toward about 1.8 million bpd by 2030 if investment, rig availability, and oilfield services scale to requirements.
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