Trending 
Venezuela’s acting President, Delcy Rodríguez, has said the country’s oil production remains unaffected by the twin earthquakes that killed more than 4,500 people last month.
Speaking on Monday, Rodríguez said Venezuela is currently producing about 1.2 million barrels of crude oil per day, representing an increase of roughly 10 per cent compared with a year ago.
She added that the government remains optimistic about the country’s economic growth this year.
Venezuela’s oil industry, the country’s main source of revenue, is concentrated around Lake Maracaibo in the northwest and the Orinoco Belt in the east. The areas most severely affected by the June 24 earthquakes, the northern coastal state of La Guaira and the nearby capital, Caracas, are located between the two major oil-producing regions.
The South American country’s crude oil output had declined sharply over the past two decades, dropping from more than three million barrels per day in the early 2000s to about 350,000 barrels per day in 2020 due to years of corruption and mismanagement.
Since assuming office in January following the US-backed removal of former president Nicolás Maduro, Rodríguez, who previously served as oil minister, has introduced reforms aimed at attracting foreign investment into the oil sector. The measures significantly reduce two decades of state control over the industry.
