History of the Venezuelan oil industry information
Parts of this article (those related to 2012–2016) need to be updated. Please help update this article to reflect recent events or newly available information.(April 2016)
Venezuela has the world's largest proven oil reserves at an estimated 304 billion barrels (18% of global reserves) as of 2020. The country was previously one of the world's largest exporters of oil, but the oil industry saw a significant decline since its peak in 2012.
In 2008, crude oil production in Venezuela was the tenth-highest in the world at 2,394,020 barrels per day (380,619 m3/d) and the country was also the eighth-largest net oil exporter in the world. Venezuela is a founding member of the Organization of the Petroleum Exporting Countries (OPEC).[4]
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BCV
^International Monetary Fund: Data & Statistics (1980-2008, 2015)
^CIA: The World Factbook (2009–2014)
^US Energy Information Administration, "Country Energy Profiles: Venezuela", US Energy Information Administration, [1][permanent dead link]).
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