June 18, 2024

How Iran is helping Venezuela produce oil despite US sanctions

4 min read
How Iran is helping Venezuela produce oil despite US sanctions
  • Angel Bermudez (angelbermudez)
  • BBC News World

Venezuelan oil workers carry flags of Iran and Venezuela

debt, Getty Images

Photo caption,

Iran has been exporting petrol and oil products to Venezuela

More oil began to leak out of the intestines of the Venezuelan soil.

Crude oil production in the country has experienced a historic slump in the past two years, reaching a recovery in recent months, rising to an average of 824,000 barrels a day in November, in recent months. Almost twice the daily extraction of 434,000 in the same month of 2020.

Also, in an interview aired on Venezuelan state television on January 1, President Nicolas Maduro boasted that the country was once again able to produce 1 million barrels a day.

“The target for next year is to reach 2 million,” he said.

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