Venezuela's Oil: Trump's Prize Faces Huge Hurdles to Revival
World
M
Moneycontrol•04-01-2026, 11:46
Venezuela's Oil: Trump's Prize Faces Huge Hurdles to Revival
- •Venezuela holds the world's largest oil reserves but produces only 1 million barrels/day, a fraction of its peak.
- •Decades of poor management, underinvestment, corruption, and US sanctions crippled the industry.
- •Its heavy crude is difficult and costly to extract and refine, requiring specialized infrastructure.
- •Reviving production demands tens of billions in investment, years of stability, and political will.
- •Chevron remains, but US companies face political instability and weak institutions, with limited global oil price impact.
Why It Matters: Reviving Venezuela's vast oil wealth is a complex, costly, and long-term challenge despite US interest.
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