Oil production in Venezuela's richest oil region drops, Orinoco Belt plunges 25% in two weeks.

Against the backdrop of U.S. naval forces restricting exports in the Caribbean and the further threat of possible ground strikes to pressure the Maduro regime, output in Venezuela’s most oil-rich regions is declining.

According to internal data from Petróleos de Venezuela (PDVSA), Venezuela’s state oil company, crude oil production in the Orinoco Belt dropped to 498,131 barrels per day on December 29, down about 25% from two weeks prior. Due to insufficient storage space and slow export pace, PDVSA has begun shutting down wells in some oil fields.

The Orinoco Belt mainly produces extra-heavy and heavy crude oil, traditionally accounting for nearly two-thirds of Venezuela’s total crude output.

Recently, U.S. pressure on Venezuela has been continuously escalating. The U.S. accuses Maduro of leading a foreign terrorist organization that facilitates drug trafficking. Since December 10, 2025, the U.S. has intercepted at least three oil tankers linked to Venezuela in nearby waters, claiming to have seized the crude oil on board.

In recent weeks, the Trump administration has intervened in Venezuela’s crude oil transportation by boarding and inspecting tankers and tracking those trying to enter Venezuelan ports. This move aims to deal a major financial blow to Venezuela, as over 95% of its government revenue relies on oil exports.

On the 16th, Trump ordered a blockade of all sanctioned tankers entering or leaving Venezuela, even stating that oil seized from Venezuela could be considered U.S. assets.

Last week, Trump announced that the U.S. carried out a ground strike on a facility within Venezuela, marking a significant escalation. The operation was conducted by a CIA drone, targeting a pier facility on Venezuela’s coast.

According to CCTV News, on December 31, 2025 local time, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued a statement announcing new sanctions on four companies operating in the Venezuelan oil sector, listing four related tankers as frozen assets.

According to CCTV News, at least two tankers have arrived in Venezuela in recent days, and other tankers are heading there as well. This indicates that the Venezuelan oil company continues to sell crude oil.

Reportedly, this month PDVSA has been negotiating with clients to amend contracts and provide price discounts to avoid returns and reductions in crude oil production. As of this week, over twenty tankers are waiting to load or depart at José port in Venezuela. The total oil stored on tankers that haven’t yet departed has increased from 11 million barrels in mid-December to about 16 million barrels. Some analysts say Venezuela is working to expand its floating storage capacity.

According to previous reports, PDVSA produces about 1.1 million barrels of crude oil per day. Due to U.S. sanctions, a large amount of crude oil is piling up at Venezuelan ports. To avoid production cuts due to inventory backlog, Venezuela has transferred some crude oil onto tankers for floating offshore storage.

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