Venezuela's Oil Production Soars Despite US Sanctions

CARACAS, Venezuela — Despite facing numerous economic sanctions, Venezuela's oil production has surged to 1,051,000 barrels per day in April, according to OPEC data. This significant increase showcases the country's resilience and its efforts to adapt to economic challenges. "Venezuela has increased its oil production to 1.051.000 barrels daily!" stated a recent report by teleSUR. The report highlights the sustained increase in oil production throughout the year, averaging 1,035,000 barrels per day. This achievement is particularly notable considering the over 900 unilateral restrictive measures imposed by the United States and its allies. The Trump administration's decision to eliminate waivers that allowed foreign companies to operate in Venezuela's oil sector posed a significant threat. However, President Nicolás Maduro's government responded with measures to protect production and exports, demonstrating a commitment to economic diversification and stability. The country's focus on building a diversified and robust economic model, less reliant on hydrocarbons, while simultaneously boosting oil production, signals a remarkable achievement.