Internal estimates suggest production at a long-sanctioned Venezuelan field could recover gradually, pointing to a potential increase in supply if the restart continues.
Chevron reportedly projects that oil output in Venezuela could rise to 400,000 barrels per day by 2028, based on internal estimates. The report centers on a long-sanctioned field that is described as slowly returning to production, highlighting a gradual recovery rather than a rapid rebound. If realized, the increase would mark a notable improvement in Venezuelan supply capacity after years of sanctions-related constraints and operational decline.