Venezuela Oil
Production (2025)#19 World
1,011,862b/d+12.1% YoY
Consumption (2024)#51 World
234,478b/d+4.7% YoY
Daily Surplus (2024)
+668,173b/d
Consumption uses 26% of production.
Production
Consumption
Surplus
Oil Reserves in Venezuela
- Venezuela has proven oil reserves of 303,008,000,000 barrels (as reported in 2025) (#1 in the world), representing 17.2% of the world's total.
- As of 2025 production rates, Venezuela has roughly > 500 years of proven oil reserves left (crude and condensate reserves ÷ their annual production).
Oil Production in Venezuela
- Venezuela produced 1,011,862 barrels per day of oil and petroleum liquids in 2025 (#19 in the world), an increase of 12.1% from 902,651 barrels per day in 2024.
- Of that, 972,616 barrels per day was crude oil in 2025.
- And 30,000 barrels per day was natural gas plant liquids (NGPL) in 2025.
Oil Consumption in Venezuela
- Venezuela consumed 234,478 barrels per day of oil and petroleum products in 2024 (#51 in the world), an increase of 4.7% from 2023. This represents 0.23% of the world's total oil consumption.
- Per capita, oil consumption in Venezuela averaged 0.35 us gallons per day in 2024 (#130 in the world).
- The largest refined-product categories were Distillate Fuel Oil (39.2%), Motor Gasoline (38.3%), and Other Refined Products (9.6%).
(Historical) Oil Imports & Exports in Venezuela
EIA has stopped publishing oil trade data. Imports and exports data shown here are historical and may not reflect current trends.
Imports and exports data cover crude oil and lease condensate only, and do not include other petroleum liquids such as natural gas plant liquids (NGPL) or refined products.
oil Balance in Venezuela
- In 2024, Venezuela produced approximately 902,651 barrels per day of oil and consumed 234,478 barrels per day , a surplus of 668,173 barrels per day.
Venezuela Oil History (1973-2025)
| Reserves | Production | Consumption | Crude Oil Trade (Historical) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 303,008,000,000 | 1 | 17.2% | 1,011,862 | +12.1% | 19 | 0.95% | — | — | — | — | — | — | — | — |
| 2024 | 303,221,000,000 | 1 | 17.2% | 902,651 | +11.5% | 21 | 0.88% | 234,478 | +4.7% | 50 | 0.23% | 0.35 | — | — | — |
| 2023 | 303,468,000,000 | 1 | 17.3% | 809,708 | +9% | 23 | 0.79% | 223,936 | −2.5% | 55 | 0.22% | 0.33 | — | — | — |
| 2022 | 303,561,000,000 | 1 | 17.5% | 742,647 | +21% | 25 | 0.74% | 229,738 | +15.3% | 51 | 0.23% | 0.34 | — | — | — |
| 2021 | 303,806,000,000 | 1 | 17.6% | 613,924 | +11% | 27 | 0.64% | 199,317 | +0.51% | 57 | 0.20% | 0.3 | — | — | — |
| 2020 | — | — | — | 552,857 | −40.4% | 27 | 0.59% | 198,306 | −52.3% | 54 | 0.22% | 0.29 | — | — | — |
| 2019 | 302,809,000,000 | 1 | 18.1% | 927,705 | −39.7% | 22 | 0.92% | 415,355 | −30.2% | 38 | 0.41% | 0.6 | — | — | — |
| 2018 | 302,250,000,000 | 1 | 18.1% | 1,539,316 | −25.5% | 18 | 1.5% | 595,035 | −7.6% | 32 | 0.59% | 0.84 | 0 | 1,002,677 | −1,002,677 |
| 2017 | 300,878,000,000 | 1 | 18.3% | 2,066,047 | −11.3% | 12 | 2.1% | 644,000 | −9.2% | 31 | 0.65% | 0.88 | 0 | 1,509,858 | −1,509,858 |
| 2016 | 299,953,000,000 | 1 | 18.2% | 2,330,190 | −9.6% | 12 | 2.4% | 709,000 | +4% | 29 | 0.73% | 0.97 | 0 | 1,644,857 | −1,644,857 |
| 2015 | 298,350,000,000 | 1 | 18.0% | 2,577,454 | −4% | 12 | 2.7% | 682,024 | −12.5% | 29 | 0.71% | 0.94 | 0 | 1,872,431 | −1,872,431 |
| 2014 | 297,740,000,000 | 1 | 18.0% | 2,684,040 | +0.05% | 12 | 2.9% | 779,649 | +2.4% | 26 | 0.83% | 1.08 | 0 | 1,728,840 | −1,728,840 |
| 2013 | 297,570,000,000 | 1 | 18.1% | 2,682,582 | −0.05% | 12 | 2.9% | 761,557 | −9.4% | 27 | 0.82% | 1.07 | 0 | 1,856,555 | −1,856,555 |
| 2012 | 211,170,000,000 | 2 | 13.9% | 2,683,969 | +0.06% | 11 | 3.0% | 840,579 | +15.8% | 23 | 0.92% | 1.19 | 0 | 1,740,875 | −1,740,875 |
| 2011 | 211,170,000,000 | 2 | 14.3% | 2,682,440 | +3.3% | 11 | 3.0% | 725,837 | −6.3% | 24 | 0.81% | 1.04 | 0 | 1,785,234 | −1,785,234 |
| 2010 | 99,377,000,000 | 6 | 7.3% | 2,597,777 | −4.1% | 10 | 3.0% | 774,711 | +3.8% | 24 | 0.87% | 1.13 | 0 | 1,729,786 | −1,729,786 |
| 2009 | 99,377,000,000 | 6 | 7.4% | 2,708,232 | +0.27% | 9 | 3.2% | 746,185 | +2.6% | 24 | 0.87% | 1.1 | 0 | 1,697,004 | −1,697,004 |
| 2008 | 87,035,000,000 | 7 | 6.6% | 2,700,999 | −10.4% | 10 | 3.1% | 727,067 | +10.7% | 23 | 0.84% | 1.09 | 0 | 1,840,637 | −1,840,637 |
| 2007 | 80,012,000,000 | 7 | 6.1% | 3,014,425 | −0.75% | 9 | 3.5% | 656,579 | +2.1% | 25 | 0.75% | 1 | 0 | 1,835,022 | −1,835,022 |
| 2006 | 79,729,000,000 | 7 | 6.2% | 3,037,206 | −2.4% | 9 | 3.6% | 643,035 | +0.21% | 26 | 0.75% | 0.99 | 0 | 2,021,473 | −2,021,473 |
| 2005 | 77,226,000,000 | 7 | 6.0% | 3,113,442 | +9.7% | 8 | 3.7% | 641,692 | +12.8% | 26 | 0.76% | 1.01 | 0 | 2,243,900 | −2,243,900 |
| 2004 | 77,800,000,000 | 7 | 6.1% | 2,837,137 | +12.5% | 10 | 3.4% | 568,816 | +12.8% | 26 | 0.68% | 0.91 | 0 | 1,836,000 | −1,836,000 |
| 2003 | 77,800,000,000 | 7 | 6.4% | 2,522,626 | −8.9% | 10 | 3.1% | 504,424 | −5.9% | 26 | 0.63% | 0.82 | 1 | 1,646,852 | −1,646,851 |
| 2002 | 77,685,000,000 | 6 | 7.5% | 2,769,548 | −12.3% | 9 | 3.6% | 536,295 | +1.3% | 26 | 0.68% | 0.89 | 0 | 1,792,554 | −1,792,554 |
| 2001 | 76,862,000,000 | 6 | 7.5% | 3,159,274 | −2.5% | 8 | 4.1% | 529,619 | +9.7% | 26 | 0.68% | 0.89 | 77 | 1,942,181 | −1,942,104 |
| 2000 | 72,600,000,000 | 6 | 7.1% | 3,240,443 | +4% | 8 | 4.2% | 482,649 | +4.8% | 27 | 0.63% | 0.83 | 875 | 2,003,500 | −2,002,625 |
| 1999 | 72,600,000,000 | 6 | 7.0% | 3,116,822 | −9.2% | 8 | 4.2% | 460,600 | +0.83% | 28 | 0.61% | 0.8 | 3,526 | 1,923,000 | −1,919,474 |
| 1998 | 72,000,000,000 | 6 | 7.0% | 3,432,179 | −1.8% | 6 | 4.5% | 456,800 | +0.37% | 27 | 0.62% | 0.81 | 4,326 | 2,243,900 | −2,239,574 |
| 1997 | 65,000,000,000 | 6 | 6.4% | 3,493,476 | +8% | 5 | 4.7% | 455,100 | +2.9% | 28 | 0.62% | 0.83 | 2,034 | 2,285,602 | −2,283,568 |
| 1996 | 64,000,000,000 | 6 | 6.7% | 3,236,028 | +6.8% | 6 | 4.5% | 442,300 | −1.4% | 28 | 0.62% | 0.82 | 0 | 1,976,400 | −1,976,400 |
| 1995 | 64,000,000,000 | 6 | 6.8% | 3,030,620 | +13.2% | 7 | 4.3% | 448,800 | +2.3% | 28 | 0.64% | 0.85 | 0 | 1,819,900 | −1,819,900 |
| 1994 | 63,000,000,000 | 6 | 6.7% | 2,677,730 | +7.6% | 10 | 3.9% | 438,800 | +2.5% | 29 | 0.64% | 0.85 | 1 | 1,696,400 | −1,696,399 |
| 1993 | 63,000,000,000 | 6 | 6.7% | 2,489,055 | −0.43% | 7 | 3.7% | 428,000 | +3.4% | 28 | 0.64% | 0.85 | 0 | 1,619,559 | −1,619,559 |
| 1992 | 59,000,000,000 | 6 | 6.3% | 2,499,765 | −1.7% | 8 | 3.8% | 413,800 | +2.1% | 27 | 0.62% | 0.84 | 0 | 1,335,809 | −1,335,809 |
| 1991 | 59,000,000,000 | 6 | 5.9% | 2,542,178 | +11% | 7 | 3.8% | 405,100 | +2.6% | 25 | 0.61% | 0.84 | 0 | 1,379,014 | −1,379,014 |
| 1990 | 59,000,000,000 | 6 | 5.9% | 2,289,671 | +5.2% | 7 | 3.4% | 394,900 | +2% | 25 | 0.59% | 0.84 | 0 | 1,229,871 | −1,229,871 |
| 1989 | 58,000,000,000 | 6 | 6.4% | 2,176,978 | −0.55% | 7 | 3.3% | 387,100 | −2.1% | 23 | 0.59% | 0.84 | 0 | 963,452 | −963,452 |
| 1988 | 56,000,000,000 | 6 | 6.3% | 2,189,000 | +8.9% | 9 | 3.4% | 395,400 | −2% | 23 | 0.61% | 0.88 | 0 | 1,013,485 | −1,013,485 |
| 1987 | 25,000,000,000 | 8 | 3.6% | 2,010,951 | −0.74% | 9 | 3.2% | 403,400 | +0.55% | 23 | 0.64% | 0.92 | 0 | 1,029,459 | −1,029,459 |
| 1986 | 26,000,000,000 | 8 | 3.7% | 2,026,041 | +9% | 7 | 3.3% | 401,200 | +4.8% | 22 | 0.65% | 0.94 | 0 | 931,424 | −931,424 |
| 1985 | 26,000,000,000 | 8 | 3.7% | 1,859,178 | +0.32% | 8 | 3.1% | 383,000 | +1.1% | 21 | 0.64% | 0.92 | 0 | 828,676 | −828,676 |
| 1984 | 25,000,000,000 | 8 | 3.7% | 1,853,178 | +2.9% | 8 | 3.1% | 379,000 | −5.2% | 22 | 0.63% | 0.94 | 0 | 1,017,342 | −1,017,342 |
| 1983 | 22,000,000,000 | 9 | 3.3% | 1,800,948 | −5% | 7 | 3.1% | 400,000 | −6.3% | 20 | 0.68% | 1.01 | 0 | 993,897 | −993,897 |
| 1982 | 20,000,000,000 | 10 | 3.0% | 1,894,929 | −9.9% | 7 | 3.3% | 427,000 | −1.4% | 20 | 0.72% | 1.11 | 0 | 1,057,779 | −1,057,779 |
| 1981 | 18,000,000,000 | 10 | 2.8% | 2,101,981 | −3.1% | 4 | 3.5% | 433,000 | +8.3% | 21 | 0.71% | 1.16 | 0 | 1,263,116 | −1,263,116 |
| 1980 | 18,000,000,000 | 10 | 2.8% | 2,168,339 | −8% | 4 | 3.4% | 400,000 | — | 21 | 0.63% | 1.1 | 0 | 1,289,831 | −1,289,831 |
| 1979 | — | — | — | 2,355,830 | +8.8% | 6 | 4.2% | — | — | — | — | — | — | — | — |
| 1978 | — | — | — | 2,164,945 | −3.3% | 5 | 4.0% | — | — | — | — | — | — | — | — |
| 1977 | — | — | — | 2,238,016 | −2.4% | 5 | 4.2% | — | — | — | — | — | — | — | — |
| 1976 | — | — | — | 2,294,213 | −2.2% | 5 | 4.4% | — | — | — | — | — | — | — | — |
| 1975 | — | — | — | 2,345,732 | −21.2% | 4 | 4.9% | — | — | — | — | — | — | — | — |
| 1974 | — | — | — | 2,976,077 | −11.6% | 4 | 5.9% | — | — | — | — | — | — | — | — |
| 1973 | — | — | — | 3,365,995 | — | 4 | 6.7% | — | — | — | — | — | — | — | — |
See also
Sources
- U.S. Energy Information Administration (EIA), International Energy Statistics.
- Oil & Gas Journal