Venezuelan Oil output drops under US sanctions – Commerzbank

Venezuelan oil production has significantly declined due to US sanctions and blockades, dropping to 830,000 barrels per day in December, approximately 130,000 barrels lower than in November. This situation reflects the severe economic and political challenges the country is facing, further increasing instability in international supply. In contrast, overall OPEC production remains stable at around 29 million barrels, reflecting the organization's efforts to manage output and stabilize prices. Analyst Barbara Lambrecht notes that the decline in Venezuelan output could have significant ramifications for the market, particularly concerning oil prices. These recent data points indicate a noteworthy trend, prompting market participants to closely monitor developments. The current context represents a crucial timing for evaluating long-term trends.