Venezuela is currently producing some 850,000 barrels per day (bpd) of oil and hopes to soon reach 1 million bpd, the country's deputy oil minister, Erick Perez, said on Wednesday, following the temporary lifting of U.S. sanctions on the nation.

CARACAS, Nov 22 (Reuters) - Venezuela is currently producing some 850,000 barrels per day (bpd) of oil and hopes to soon reach 1 million bpd, the country’s deputy oil minister, Erick Perez, said on Wednesday, following the temporary lifting of U.S. sanctions on the nation.

Washington in October issued a license allowing Venezuela to export oil, gas and fuel to its chosen markets through mid-April as a way to encourage negotiations for a fair presidential election next year. The measures could be reverted.

  • Maeve
    -1•10 months ago

    Didn’t the USA overthrow Chavez because he nationalized the oil industry?

      • Maeve
        0•10 months ago

        Mandela effect? I do remember Chavez* sent heating oil to elderly USA citizens under W, while leaked emails showed US oil companies colluding to cut production and raise/fix prices, blaming planned production cuts on Hurricane Katrina. Maybe I’m thinking of the USA attempt to coup Maduro.

        • corrected
    • SeaJEnglish
      1•10 months ago

      He was overthrown for like two days. He has also been dead for 10 years. The US did try to overthrow Maduro but I do not even think Guaidó even maintains that façade that he is president anymore.

      • Maeve
        1•10 months ago

        Yes, I’m aware it’s been a long time. I’m also aware Guaidó has a teaching* position at a Florida university.

        Corrected.