Venezuela’s Oil Revival Faces a Critical Services Bottleneck

AI Summary

Venezuela's oil industry is poised for a significant production recovery following hydrocarbon reforms and geopolitical changes in early 2026. Challenges remain in converting policy shifts into sustained operational output, with an expected crude production increase of about 17%.

Venezuela's upstream industry has entered a new phase. Following sweeping hydrocarbon reforms and broader geopolitical developments in early 2026, the conversation has shifted from whether the country can reopen its oil sector to whether it can successfully execute a meaningful production recovery. The country's resource potential has never been in doubt. The greater challenge now lies in converting policy momentum into sustained operational growth. Rystad Energy estimates Venezuela's crude production could increase by approximately 17%, or around…