Venezuela’s oil industry plans to increase crude production

Venezuelan President Nicolรกs Maduro announced 16 cabinet changes aimed at accelerating economic and social transformations for a new phase of โ€œpopular self-government.โ€

During a televised meeting with grassroots activists and government officials on Tuesday, Maduro designated Vice-President Delcy Rodrรญguez as new oil minister, emphasizing her โ€œexpertiseโ€ in the sector. She will work alongside Hรฉctor Obregรณn, who will assume the presidency of state oil company PDVSA.

In a video shared on social media Wednesday, Rodrรญguez expressed her gratitude for her new responsibility and reflected on her earlier experience in the Oil Ministryโ€™s International Affairs Office two decades ago when theย PetroCaribeย initiative was running.

Maduro tasked the new leadership of the oil industry with increasing crude production, which currentlyย standsย at 852,000 barrels per day (bpd), according to secondary sources in the latest OPEC monthly report.