{
  "id": 3219225,
  "title": "Venezuela Claims Oil Production Hits Highest Since 2019",
  "url": "https://urgent.news/2026/08/25/venezuela-claims-oil-production-hits-highest-since-2019",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-25T07:44:35.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/venezuela-oil-production-highest-since-2019-2026/"
  },
  "original_language": "en",
  "account": "Venezuela announced on August 24, 2026, that its oil production had reached 1.23 million barrels per day, marking the highest level since February 2019. This claim came during a televised address by Vice-President Delcy Rodríguez, who stated that the figure surpassed all previous records. According to Rodríguez, this achievement signals a significant recovery in the nation's oil production, which had declined for several years due to sanctions, underinvestment, and operational issues. The interim government also revealed that 50 strategic oil and gas agreements had been signed since January 2026, aimed at attracting new investments and boosting production across various hydrocarbon areas. However, the Venezuelan government has not provided detailed technical data to substantiate the official production figure, relying instead on statements from Rodríguez and leadership from the state-owned oil company, PDVSA. Independent estimates from mid-August 2026 suggest that actual production might range from 1.1 to 1.2 million barrels per day, indicating that the government's claim could be slightly optimistic. The U.S. Energy Under Secretary, Kyle Haustveit, reported that Venezuela produces approximately 1.25 million barrels daily, aligning closely with the government's stated production. PDVSA's vice president, Jovanny Martinez, projected that output would reach 1.245 million barrels per day by the end of August 2026, closely matching the government's current claim. Analysts noted that Venezuela's oil sector has been volatile, and sustaining increased production would depend on significant investment and stable operating conditions. Despite the government's optimism, independent sources have not confirmed the exact daily production figure, and it remains unclear whether the 1.23 million barrels per day claim can be verified.",
  "summary": "Venezuela's interim government says oil production has reached about 1.23 million barrels per day, the highest since February 2019. Officials also announced 50 strategic oil and gas agreements with international investors. The post Venezuela Claims Oil Production Hits Highest Since 2019 appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}