President Maduro claims current US army deployments are geared toward regime change and seizing the nation’s huge oil wealth. (AFP)
Caracas, September 12, 2025 (venezuelanalysis.com) – Venezuela’s oil manufacturing stays on a secure pattern, in response to the Group of Petroleum Exporting International locations (OPEC), as the nation faces continued US sanctions and heightened strain amid a current US army buildup within the southern Caribbean Sea.
The newest OPEC month-to-month report exhibits Venezuela’s August crude manufacturing at 936,000 bpd, a modest rise from 924,000 bpd in July, as measured by secondary sources.
In contrast, Venezuelan state oil firm PDVSA reported an output of 1.098 million bpd for final month, up 14,000 bpd from July. This quantity consists of pure fuel liquids and condensates, which elevate the whole manufacturing determine.
Venezuela’s oil exports likewise proceed an upward trajectory, reaching 966,458 bpd in August, the very best stage since November 2024 and marking a nine-month improve.
Since 2017, the US Treasury Division has imposed financial sanctions, an export embargo, secondary sanctions and a bevy of different measures on PDVSA.
Early this 12 months, the US Workplace of Overseas Property Management (OFAC) revoked licenses issued in late 2022 that allowed PDVSA companions, together with oil big Chevron, restricted manufacturing and exports in Venezuela joint ventures.
The White Home later reversed its earlier resolution and issued a brand new license, allowing Chevron to as soon as once more resume restricted operations in Venezuela. Final month, roughly 60,000 bpd of Venezuelan crude have been delivered to the US and about 29,000 bpd to Cuba.
Shipments destined for China made up roughly 85 per cent of final month’s PDVSA gross sales, reflecting Caracas’s ongoing shift of oil commerce and funding towards China in recent times. Final week, China Harmony Sources Corp. (CCRC) installed its first self-elevating offshore platform to function two oilfields in Maracaibo Lake, positioned in western Zulia state.
Though crude output and exports have been regular just lately, US sanctions nonetheless prohibit the Caribbean nation’s predominant overseas income supply as the oil business stays removed from returning to its pre-sanctions manufacturing stage of roughly 3 million bpd.
The newest OFAC license for Chevron reportedly blocks funds to the Venezuelan state, additional lowering the quantity of US {dollars} accessible for trade.
Because of this, PDVSA has been step by step increasing its use of digital forex and shifting oil gross sales to Tether (USDT), a dollar-linked stablecoin, in response to reports. USDT has emerged as a brief lifeline for varied sectors of the Venezuelan financial system, together with non-public companies and home manufacturing.
Companies reportedly purchase cryptocurrencies, primarily USDT, from a lot of approved banks after which promote the crypto or use it for home and worldwide transactions. In flip, an estimated US $119 million in cryptocurrencies have been bought by the Venezuelan Central Financial institution (BCV) to the non-public sector in July, as registered by native analyst agency Ecoanalitica.
Caracas has not formally confirmed that it’s increasing using cryptocurrencies in its oil dealings and trade market.
With estimated oil reserves of 303 billion barrels, Venezuela’s hydrocarbon wealth stays a key factor of US overseas coverage goals, significantly when it comes to deterring China’s rising oil companies within the Caribbean nation.
Some analysts have steered that the current US naval deployment within the Caribbean is geared toward placing strain on Caracas and with a purpose to achieve the higher hand in oil-related negotiations somewhat than signalling imminent army motion, which might destabilize world vitality markets.
On Tuesday, President Nicolás Maduro accused the US authorities of “peddling lies” concerning the deployment of its army for anti-narcotics operations off the coast of Venezuela with a purpose to justify regime change and seize the nation’s oil and fuel sources.
“They [the US] are after oil. It isn’t about drug trafficking; it’s about oil,” Maduro mentioned throughout an interview with former Ecuadorian President Rafael Correa.
In his weekly broadcast, President Maduro as soon as once more condemned Washington’s “unjustified and unacceptable escalation of struggle,” arguing that the last word purpose is to overthrow his authorities and set up a regime “enslaved to US pursuits.”
Edited by Cira Pascual Marquina in Caracas.
