US Energy Secretary Chris Wright announced that Venezuela’s oil exports could reach 2 million barrels per day under the current administration, a figure that would represent a staggering turnaround for a country whose petroleum industry had been in freefall for years.
Venezuela’s exports have already surged to an estimated 1.25 million barrels per day following the January 2026 ousting of former President Nicolás Maduro.
The numbers behind the comeback
The United States has been taking in approximately 558,000 barrels per day of Venezuelan crude. India accounts for roughly 427,000 bpd, while Europe has been importing around 169,000 bpd.
Since January 3, 2026, Venezuela has sold approximately 150 million barrels of oil total. The country previously produced over 3 million bpd during the 1990s before a combination of mismanagement, sanctions, and political turmoil sent output cratering below 1 million bpd prior to 2026.
