UPDATE: Venezuela has confirmed it has met its oil production target of 1.2 million barrels per day, despite ongoing US military interventions and the seizure of multiple oil tankers. Vice President Delcy Rodriguez announced this significant milestone on December 11, 2023, calling it a tremendous achievement for the state oil company PDVSA and a testament to the resilience of Venezuelan workers.
Rodriguez emphasized that this accomplishment, achieved under the Productive Independence Plan, is the “best Christmas gift” for Venezuelans. She stated that workers have triumphed over what she termed “harassment, hostility, and imperialist illegality” from the US, which she claims violates human rights in Venezuela. “Nothing and no one will stop us,” Rodriguez declared, reaffirming support for President Nicolas Maduro.
This announcement arrives in the wake of heightened tensions, as US forces have recently seized oil tankers linked to Venezuela. Notable among these is the Panama-flagged tanker Centuries, seized on December 10, and another tanker intercepted on December 11. These actions come as part of a broader US initiative to enforce sanctions on Venezuelan oil exports, which President Donald Trump previously labeled as a “total and complete blockade” against what he described as a “foreign terrorist organization.”
The Venezuelan government has condemned these US actions as “international piracy,” asserting that the seizures are a thinly veiled attempt to undermine its sovereignty and control over its oil resources. Rodriguez reiterated that the US is using anti-narcotics efforts as a facade to target Maduro’s government, accusing Washington of ulterior motives.
The ongoing conflict has significant implications for global oil markets, as Venezuela possesses some of the largest oil reserves in the world. As the country strives to stabilize and increase its production, the international community is closely watching how this situation unfolds.
What to watch for next: With Venezuela’s commitment to ramping up oil production through 2026, the world will be monitoring both its economic recovery and the potential for further US interventions. Will Venezuela’s oil strategies withstand the pressure from the US? The coming weeks will be crucial.
Stay tuned for more updates on this developing story as Venezuela navigates these turbulent waters amidst geopolitical strife.
