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US sanctions have crippled Venezuela's oil production. Output stood nearly 2 million barrels per day (bpd) when the first sanctions were imposed in mid-2017 and fell to historic lows in the second half of 2020. A modest recovery currently has crude production above 500,000 bpd. (Venezuelanalysis / Utopix. Data from OPEC)
US sanctions have crippled Venezuela's oil production. Output stood nearly 2 million barrels per day (bpd) when the first sanctions were imposed in mid-2017 and fell to historic lows in the second half of 2020. A modest recovery currently has crude production above 500,000 bpd. (Venezuelanalysis / Utopix. Data from OPEC)