According to Rodríguez, oil production in Venezuela has increased by 8.5% over the past 12 months. The average stood at 1.244 million barrels per day in October and had risen to 1.251 million by the time of her statement. The growth was driven mainly by the domestic capabilities of the national industry and international partnerships. Many of the agreements already signed have yet to be fully implemented, however, and a more significant increase is expected from December.
Rodríguez also discussed the import-substitution policy the government is developing in cooperation with the private sector. Talks in the National Economic Council helped redirect foreign purchases toward raw materials for domestic industry, imports of which rose by 31%. At the same time, purchases of processed food fell by 38.8%—a move the official said should support local production and strengthen national supply chains.
Full story: Executive announces Venezuelan oil production grew by 8.5%