Oil production — all countries

Oil production — Venezuela

Oil production in Venezuela in 2025 — 972.6 kb/d. Ranked 20 in the world out of 214. Since 1973, the indicator has fallen by 71.1%.

2025 972.6 kb/d +12.64% vs 2024
World rank 20of 214
Period maximum 3,366 kb/d1973
Period minimum 527.1 kb/d2020

Trend over time

1973–2025 · thousand barrels per day

Oil production — Venezuela, 1973–202501,0002,0003,0004,00019731979198519911997200320092015202120251973: 3,366 kb/d1974: 2,976.1 kb/d1975: 2,345.7 kb/d1976: 2,294.2 kb/d1977: 2,238 kb/d1978: 2,164.9 kb/d1979: 2,355.8 kb/d1980: 2,168.3 kb/d1981: 2,102 kb/d1982: 1,894.9 kb/d1983: 1,800.9 kb/d1984: 1,714.2 kb/d1985: 1,677.2 kb/d1986: 1,787 kb/d1987: 1,752 kb/d1988: 1,903 kb/d1989: 1,907 kb/d1990: 2,136.7 kb/d1991: 2,375.2 kb/d1992: 2,333.8 kb/d1993: 2,305.1 kb/d1994: 2,443.1 kb/d1995: 2,752.4 kb/d1996: 2,937.6 kb/d1997: 3,182.4 kb/d1998: 3,119.4 kb/d1999: 2,784.8 kb/d2000: 2,893.6 kb/d2001: 2,806.9 kb/d2002: 2,435.3 kb/d2003: 2,303.5 kb/d2004: 2,563.9 kb/d2005: 2,839.5 kb/d2006: 2,785 kb/d2007: 2,819.7 kb/d2008: 2,510 kb/d2009: 2,520 kb/d2010: 2,410 kb/d2011: 2,500 kb/d2012: 2,500 kb/d2013: 2,500 kb/d2014: 2,500 kb/d2015: 2,489.5 kb/d2016: 2,254.5 kb/d2017: 1,997.4 kb/d2018: 1,485.6 kb/d2019: 877.7 kb/d2020: 527.1 kb/d2021: 594.8 kb/d2022: 723.7 kb/d2023: 770.5 kb/d2024: 863.5 kb/d2025: 972.6 kb/d
Change over the period: −2,393.4 (−71.1%) Average annual rate: -2.36 %

Comparison, 2025

How the value compares with the world and the groups this territory belongs to: Venezuela

Venezuela 972.6 kb/d
World computed 84,356.9 kb/d
Latin America & Caribbean computed 9,356.4 kb/d
South America computed 7,546.5 kb/d
Oil production — Venezuela, by year Venezuela All countries CSV XLSX
Year kb/d Change Change, %
2025 972.6 +109.1 +12.64%
2024 863.5 +93 +12.07%
2023 770.5 +46.8 +6.47%
2022 723.7 +128.8 +21.66%
2021 594.8 +67.7 +12.85%
2020 527.1 −350.6 −39.95%
2019 877.7 −608 −40.92%
2018 1,485.6 −511.8 −25.62%
2017 1,997.4 −257 −11.4%
2016 2,254.5 −235 −9.44%
2015 2,489.5 −10.5 −0.42%
2014 2,500 +0 +0%
2013 2,500 +0 +0%
2012 2,500 +0 +0%
2011 2,500 +90 +3.73%
2010 2,410 −110 −4.37%
2009 2,520 +10 +0.4%
2008 2,510 −309.7 −10.98%
2007 2,819.7 +34.7 +1.25%
2006 2,785 −54.5 −1.92%
2005 2,839.5 +275.6 +10.75%
2004 2,563.9 +260.4 +11.31%
2003 2,303.5 −131.8 −5.41%
2002 2,435.3 −371.6 −13.24%
2001 2,806.9 −86.7 −3%
2000 2,893.6 +108.8 +3.91%
1999 2,784.8 −334.6 −10.73%
1998 3,119.4 −63.1 −1.98%
1997 3,182.4 +244.8 +8.33%
1996 2,937.6 +185.2 +6.73%
1995 2,752.4 +309.3 +12.66%
1994 2,443.1 +138.1 +5.99%
1993 2,305.1 −28.7 −1.23%
1992 2,333.8 −41.4 −1.74%
1991 2,375.2 +238.5 +11.16%
1990 2,136.7 +229.7 +12.04%
1989 1,907 +4 +0.21%
1988 1,903 +151 +8.62%
1987 1,752 −35.1 −1.96%
1986 1,787 +109.9 +6.55%
1985 1,677.2 −37 −2.16%
1984 1,714.2 −86.8 −4.82%
1983 1,800.9 −94 −4.96%
1982 1,894.9 −207.1 −9.85%
1981 2,102 −66.4 −3.06%
1980 2,168.3 −187.5 −7.96%
1979 2,355.8 +190.9 +8.82%
1978 2,164.9 −73.1 −3.26%
1977 2,238 −56.2 −2.45%
1976 2,294.2 −51.5 −2.2%
1975 2,345.7 −630.3 −21.18%
1974 2,976.1 −389.9 −11.58%
1973 3,366

About the indicator

Crude oil production, including lease condensate, in thousands of barrels per day — the unit in which oil statistics are kept worldwide. The daily figure is no convention here: production is regulated by a valve, OPEC agreements are written in barrels per day, and it is in exactly these units that cuts and quota increases are announced. Refined products and other liquids are not included, so the figure is lower than total liquid hydrocarbon output in countries with large refining industries.

Important: Crude oil with gas condensate, without refined products and other liquid hydrocarbons. The unit is daily, as is customary in oil statistics: the annual volume is obtained by multiplying by 365.

Source: International Energy Statistics (EIA), license Public domain (work of a U.S. federal agency).