Venezuela Oil Output Projected to Reach 1.8M Bpd by 2030 as Operators Return

Rystad Energy projects Venezuelan crude production could rise to 1.6 million bpd by 2028 and 1.8 million bpd by 2030, driven by a broad influx of international operators and capital under revised contracts. This marks a significant reversal from years of underinvestment and sanctions-driven decline, though the forecast hinges on capital deployment, rig availability, and oilfield services scaling as required. The return of major and new operators signals a potential shift in Venezuela's energy landscape, with implications for global supply and OPEC dynamics.