Venezuela produces 30% of its oil from 15 years ago, needs decade for recovery

Venezuela currently produces approximately 30 percent of the oil it was producing fifteen years ago, according to recent reports. The country would require nearly a decade to return to production levels near 3 million barrels per day.

Any significant increase in oil production and foreign investment in Venezuela would necessitate involvement from the White House to ensure the physical security of all energy investments in the country, including personnel and equipment.

This situation reflects challenges similar to those faced by other oil-producing nations. For instance, Iraq"s West Qurna oil field production fell short of expectations post-2003, highlighting the difficulties in stabilizing oil production in regions affected by political and security issues.

As Venezuela navigates its oil production challenges, the need for international support and security guarantees remains a critical factor for potential investors.

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