VENEZUELA OIL PRODUCTION RISES HIGHER-And signs 50 Oil and Gas Agreements to attract new oil fields investments 

Venezuela’s government has announced that its oil production reportedly exceeds 1.23 million barrels daily, with Vice-President Delcy Rodríguez reportedly stating that about 50 strategic oil and gas agreements have been signed since January 2026. 

The announcement came during a televised address to the nation, with officials reportedly presenting the numbers as evidence of recovery from years of decline. 

Rodríguez stated that the 50 strategic oil and gas agreements would bring new investments to more than 76 hydrocarbon production areas. The agreements cover both upstream production and broader hydrocarbon infrastructure.

Rodríguez framed the agreements as a key part of Venezuela’s strategy to boost output. As a major global crude oil producer, Venezuela’s signing of multiple oil agreements and the influx of investment into 76 oil fields raise expectations for future increases in crude supply, exerting bearish pressure on both spot and futures prices.

The simultaneous signing of multiple natural gas cooperation agreements raises expectations for future growth in natural gas supplies, exerting a slightly bearish influence on natural gas prices.