US blockade forces Venezuela to slash oil production
Venezuela sharply reduced its oil exports in early January, almost three‑fold, after a U.S. maritime blockade disrupted shipments, leading to production stoppages at several oil projects, according to a report by the International Energy Agency (IEA).
The IEA said Venezuela’s crude exports fell steeply from about 880,000 barrels per day in December to roughly 300,000 barrels per day in early January as a result of the blockade, based on preliminary shipping data, News.Az reports, citing foreign media.
Preliminary estimates indicated that output was cut by 30,000 barrels per day, to 870,000 barrels per day.
Venezuela’s oil production in the Q3 of 2025 and in December stood at around 1 mln barrels per day, while the average for 2025 reached 950,000 barrels per day. The country exported 780,000 barrels per day, with 25% of those volumes shipped to the United States. In December, half of Venezuela’s oil exports were loaded onto tankers subject to sanctions.
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