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Venezuela's Oil Stalls Amid U.S. Control | Venezuela News
Venezuela’s oil production is stuck at just over a million barrels a day, despite new pro-business laws and soaring global prices — a sharp drop from its early-year highs. The U.S. now controls Venezuela’s energy sector, siphoning all oil revenues into a U.S. Treasury account and dictating how much, if any, returns to Caracas. Prime oilfields are being handed over to U.S.-linked firms like NABEP, aimed at boosting output — especially for America’s strategic reserves. Once touted as a $100 billion investment, the plan has been scaled back to over $10 billion, with the 1.5 million bpd target…
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