Rigzone · February 19, 2026 · 1 min read

USA Says VEN Oil Output Can Climb 30-40 Pct This Year

Analysis

OilCyprus Editorial

The US government has issued licenses permitting some Western oil companies to resume operations in Venezuela. This action could potentially increase Venezuelan oil production by 30-40% this year, reversing a long period of decline.

Key Facts

The Trump administration issued licenses.
Licenses allow Western oil firms to operate in Venezuela.
Venezuelan oil output could increase 30-40%.

Market Impact

This development could ease some of the global supply constraints in the oil market, potentially putting downward pressure on prices. It also represents a significant shift in US policy towards Venezuela, opening up opportunities for Western oil companies to access Venezuelan reserves, but also exposing them to political and operational risks.

Why This Matters

This policy shift could significantly alter global oil supply dynamics and create new investment opportunities, but also introduces geopolitical risk factors for companies operating in Venezuela.

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