politics
Venezuela's Oil Production and Exports Hit Highest Levels Since 2018
Venezuela's oil exports have hit their highest level since 2018 following a surge in crude production. This development comes after the U.S. captured former President Nicolás Maduro and installed a new leader open to private investment. Exports to India have risen considerably, impacting global oil dynamics.
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Venezuela’s oil exports reached their highest level since 2018, driven by a surge in crude production, Semafor reported. U.S. captured former President Nicolás Maduro and replaced him with a leader who agreed to Washington’s demands to open the oil industry to private investment.
Venezuela holds the world’s largest oil reserves. The easing of restrictions has swayed some of the world’s biggest firms, including Exxon, one of the largest affected. Venezuelan oil exports to India have risen considerably.
India is one of the biggest buyers of Russian oil. U.S. captured former President Nicolás Maduro, marking a shift in the country's oil sector management.
