Venezuelan oil production in January 2025: Increase or decrease?

The Organization of Petroleum Exporting Countries (OPEC) reported that Venezuela produced 1,031,000 barrels of daily oil (BPD) in January 2025, according to official Venezuelan government data.

This figure represents an increase of 33,000 BPD compared to the 998,000 BPDs reported in December 2024.

However, there is a discrepancy between official data and secondary sources of the OPEC, which indicate a production of 892,000 BPD in January 2025, which implies a decrease of 18,000 BPD compared to the 910,000 BPD in December 2024.

It is important to remember that Venezuela’s oil production experienced a 17.62% increase in 2024, and an increase of 24.44% in December 2024 compared to the same month of the previous year.

Oil production plan for 2025

On January 6, 2025, the Executive Vice President of Venezuela, Delcy Rodríguez, announced an evaluation of the oil production plan for this year, with the aim of increasing efficiency and transparency in the industry.

This plan seeks to consolidate the capacities of the Ministry of Hydrocarbons in areas such as production, commerce, diversification and artificial intelligence to enhance the energy abilities of Venezuela.