Rystad forecasts 300,000 b/d drop in Venezuelan oil production with Chevron exit

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 10.Mar.2025, Words: 218) — The 27 Feb. 2025 decision by the US to end Chevron Corporation‘s license in Venezuela could result in loss of around 300,000 barrels per day (b/d) by year-end 2025, according to Rystad Energy.

That’s about 30% of Venezuela’s production of 1,031 thousand (Mb/d) in Jan. 2025, Rystad analyst Avnika Pandita said 10 Mar. 2025 in a post on social media.