The Chamber of Commerce of Petroleum in Venezuela announces that less than 30% of the oil wells are active. Current production is approaching 1 million barrels per day.

According to the Venezuelan Oil Chamber (CPV), less than 30% of the nearly 31,000 oil wells in the country are currently operational, in the context of the United States trying to increase production after the capture of President Nicolás Maduro. Current production is nearing 1 million barrels per day, far from the 3 million barrels two decades ago. Enrique Novoa, the president of CPV, emphasized that many wells require maintenance and that companies like Chevron and Repsol are making progress in this regard. The sector aims for a production of 1.3 million barrels per day for this year, but faces difficulties related to electricity supply and the need for investment in equipment. Novoa called for the lifting of American sanctions, accusing them of reducing production, although mismanagement and corruption contribute to the current problems. American President Donald Trump began to relax sanctions, but experts believe that this is not enough to stimulate production.