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Oil industry in Venezuela

Statistics report on the Venezuelan oil industry

Venezuela holds the largest crude oil reserves in the world. Nonetheless, its production has been on a continual decline for over a decade. This report presents key statistics about the South American country's oil industry, including an overview of the Venezuelan economy and its dependence on petroleum, along with figures on oil reserves, production, refining, and foreign trade.

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Table of contents

Overview

6
  • Basic Statistic Gross domestic product (GDP) in current prices in Venezuela 1980-2027
  • Basic Statistic Ratio of national debt to GDP of Venezuela 1998-2025
  • Premium Statistic Largest global oil refineries by capacity 2023
  • Premium Statistic Global oil reserves breakdown by country 1960-2024
  • Basic Statistic Crude oil production in Latin America & the Caribbean 2024, by country
  • Premium Statistic Venezuela's Merey average crude oil price 2020-2025

Foreign trade

6
  • Premium Statistic Crude oil exports from Venezuela 2000-2024
  • Premium Statistic Crude oil exports from Venezuela 2023, by region of destination
  • Premium Statistic Oil industry's contribution to total export value in Venezuela 2010-2023, by product
  • Basic Statistic Venezuela: leading crude oil loading points 2019, by share of exports
  • Premium Statistic Petroleum products imports in Venezuela 2010-2021
  • Basic Statistic U.S. petroleum imports from Venezuela 2000-2019

Reserves and production

5
  • Basic Statistic Proved crude oil reserves in Venezuela 2010-2021
  • Basic Statistic Monthly crude oil production in Venezuela 2021-2025
  • Premium Statistic Oil production in Venezuela 2008-2024
  • Premium Statistic Number of wells completed in Venezuela 2010-2021
  • Premium Statistic Number of active oil rigs in Venezuela 2012-2023

Refining

3
  • Premium Statistic Oil refining capacity in Venezuela 1990-2023
  • Premium Statistic Petroleum refining capacity in Venezuela 2021, by location
  • Premium Statistic Oil refinery throughput in Venezuela 2009-2023

Consumption

3
  • Basic Statistic Primary energy supply in Venezuela 2024, by source
  • Premium Statistic Oil consumption in Venezuela 2010-2023
  • Premium Statistic Oil demand in Venezuela 2010-2021, by main product
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