Key Market Indicators
Venezuela's crude oil production is projected to drop 3% year on year to 88,530 thousand tonnes of oil equivalent by 2026. Since 1976, the country's supply has decreased by an average of 4.9% year on year. In 2021, it was ranked number 21 with 520,570 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq were numbers 2, 3 and 4 respectively in this ranking.
