Venezuela Maintains 1.2 Million b/d Output Target After Quakes Spare Oil Regions
Acting President Delcy Rodríguez says production was not disrupted by the June earthquakes that killed over 4,500, as the country’s main oilfields lie far from the epicentre.
Venezuela’s acting president, Delcy Rodríguez, stated on Monday that the country’s crude oil production reached 1.203 million barrels per day and was “not affected” by the double earthquake that struck on 24 June. The figure, up from 1.179 million bpd reported to OPEC in May, extends a recovery that has seen output rise roughly 10 per cent over the past year, according to official data. It remains far below the more than 3 million bpd the country pumped in the early 2000s, before mismanagement and corruption drove production to a low of 350,000 bpd in 2020.
The 7.2- and 7.5-magnitude tremors, which occurred 39 seconds apart, devastated the northern coastal state of La Guaira and the capital Caracas, killing more than 4,500 people and causing an estimated $37 billion in damage. Venezuela’s main oil-producing zones—the Lake Maracaibo basin in the northwest and the Orinoco Belt in the east—lie hundreds of kilometres from the epicentre, leaving extraction and export infrastructure largely untouched. The United Nations has estimated that the number of missing could reach 50,000, though authorities have not released an official tally.
Rodríguez, a former oil minister who assumed the interim presidency in January after a US military operation captured Nicolás Maduro, has used the post-quake period to reassure investors that the government’s growth plan remains on track. She has enacted a hydrocarbons reform that rolls back two decades of state dominance and has courted foreign oil companies. Oil export revenues grew 21 per cent in the first quarter of 2026 to $5.49 billion, central bank figures show, providing a fiscal buffer as the country confronts a humanitarian crisis that has left more than 20,000 people in temporary camps.
Washington continues to apply pressure on Caracas to deepen political and economic reforms in exchange for sanctions relief. The next factual milestone will be the release of Venezuela’s production data in the upcoming OPEC monthly oil market report, which will indicate whether the 1.203 million bpd level is sustained.
| Latin American press | +0.20 | neutral |
|---|---|---|
| Continental European press | 0.00 | neutral |
| Sub-Saharan African press | 0.00 | neutral |
Acting President Delcy Rodríguez reassures businesses and the market: oil production has not been touched and is actually growing, demonstrating the resilience of the Venezuelan economy.
It emphasizes production data and the comparison with the previous month, citing OPEC sources, to lend credibility to the recovery, while minimizing the disaster's impact by mentioning UN damages only as context.
It does not mention the earthquake death toll (over 4,500) that appears in European and African reports.
Acting President Delcy Rodriguez claims oil production is unaffected, but the report foregrounds the tragic human toll of over 4,500 deaths.
By juxtaposing the death toll with the official statement, the narrative creates an implicit contrast between the government's priority (oil) and human suffering.
It does not report the 10% production increase or the comparison with OPEC data, which would have bolstered the government's narrative.
Acting President Delcy Rodriguez states that oil output is unaffected and rising, and the report presents this as a straightforward fact without questioning the government's claims.
By repeating the government's statement without additional context or critical sources, the report lends it an air of authority and normalcy.
It does not mention the UN damage estimate of $37 billion or the death toll, which would introduce a note of crisis.
Broaden your view
UK demands FIFA investigate Argentina over Falklands banner after semi-final win
6 languages · 40 outlets
From Economy & MarketsUS confirms 25% tariff on Brazilian imports, exempting key commodities, as political blame game intensifies
6 languages · 29 outlets
From TechnologyTSMC Pledges $100bn More for US Plants as AI Boom Lifts Profit 77%
7 languages · 12 outlets