Venezuela's Oil Output Hits 1.1 Million BPD in March

• Oil production increased approximately 17% from 942,000 bpd in January to 1.1 million bpd in March
• Gasoline and diesel production rose 14% year-over-year, reaching 166,700 bpd in 2025 compared to 146,200 bpd in 2024
• The production figures include crude oil, condensate, and natural gas liquids from state oil company PDVSA

Venezuela's Oil Output Hits 1.1 Million BPD in March

Key Facts:

Venezuela's oil production reached 1.1 million barrels per day (bpd) in March 2025, according to government data from state oil company PDVSA. This represents a significant increase from January's output of 942,000 bpd—a gain of approximately 158,000 bpd or 16.8% over the two-month period.

The production figures include crude oil, condensate, and gas liquids.

Refining Activity:

Venezuela's gasoline and diesel production also showed improvement, reaching 166,700 bpd in 2025, up from 146,200 bpd in 2024—an increase of roughly 14%.

Market Implications:

This production increase is noteworthy for global oil markets as Venezuela continues recovering output levels that were severely diminished due to years of underinvestment, sanctions, and operational challenges. The country, which once produced over 3 million bpd in the 1990s, has struggled with declining production for over a decade.

The rising output could potentially add more supply to global markets, particularly if sanctions continue to ease or if Venezuela finds additional buyers for its crude. This development may influence OPEC+ production strategies and global oil pricing dynamics.

For traders, the continued recovery trajectory suggests Venezuela is gradually restoring operational capacity at PDVSA facilities. However, sustainability of these gains remains uncertain given the company's infrastructure challenges and the country's broader economic situation.

The data comes from an official government presentation, indicating authorities are publicly tracking and promoting production improvements.