Caracas (OrinocoTribune.com)—According to the latest monthly report issued by the Organization of the Petroleum Exporting Countries (OPEC), Venezuela’s oil production experienced a steady increase over the course of May.

Data provided by official Venezuelan sources indicates that the nation’s crude output rose by 3.78%, representing an increase of 43,000 barrels per day (bpd) compared to April, bringing total production to 1,179,000 bpd.

Meanwhile, OPEC’s secondary sources reported that May’s production increase stood at 3.97%, which comes out to 36,000 bpd more than the previous month, placing the output at 1,072,000 bpd. OPEC regularly compiles its monthly reports utilizing both official tracking and secondary data, which accounts for the standard variations in estimated figures across member states.

The June 2026 edition of #OPEC’s Monthly Oil Market Report is now available online.

Download⏬ https://t.co/a9NcCcq8QR#OPECMOMR pic.twitter.com/CGAcl6oJLO

— OPEC (@OPECSecretariat) June 11, 2026

Imperialist blockades and legislative shifts
This sustained growth follows a highly volatile period in late 2025. Throughout November and December 2025, the US empire intensified its illegal blockade against Venezuela, aggressively seizing tankers on the high seas that were transporting Venezuelan oil to Cuba, Iran, and China. While this imperialist offensive threatened to collapse the nation’s energy sector, the industry has staged a significant recovery.

So far this year, Venezuelan crude production—supported by the world’s largest proven oil reserves—has surged by 27.6% from the 924,000 bpd recorded in January. This recovery began the same month the US empire launched a bombing campaign against the country, illegally kidnapped President Nicolás Maduro, and murdered more than 100 people, including 32 Cuban and 47 Venezuelan soldiers.

Weeks after the kidnapping of President Maduro, the Chavista-controlled National Assembly unanimously approved an overhaul of the Hydrocarbons Law to aggressively incentivize foreign investment. Political analysts interpreted the legislative shift as a departure from the legacy of President Hugo Chávez, who pioneered the original 2001 law and its subsequent 2006 reform to guarantee dominant state participation, ownership, and sovereign control over national oil activities.

Venezuela’s Delcy Rodriguez Holds High-Level Meetings in India Consolidating Oil Provisions

Export volumes hit seven-year peak
The production rebound is closely mirrored by a massive surge in export performance and US meddling in Venezuelan internal affairs. On June 8, the US Chargé d’Affaires in Caracas, John Barrett, controversial reported that Venezuela’s oil exports reached 1.25 million bpd, marking the highest production and export milestone the country has witnessed in seven years, while reiterating the US post-invasion mantra: stabilization, recovery, and transition. Industry experts explain that May’s export numbers exceeding actual monthly production reflects the offloading of crude inventories that had previously accumulated during the height of the US illegal maritime blockade.

Maritime tracking data published by Reuters confirmed that combined shipments of crude oil and refined products reached 1.25 million bpd in May, marking a third consecutive monthly increase. The US settler entity remained the primary destination for Venezuelan oil, absorbing 558,000 bpd, followed closely by India with 427,000 bpd, and Europe with 169,000 bpd.

Special for Orinoco Tribune by staff

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