Venezuelan Oil Faces Long Road to Lasting Recovery, Analysts Say

After the US’s stunning capture of Venezuelan President Nicolás Maduro over the weekend, the focus is turning to how quickly the country with the world’s largest proven crude reserves can raise output.

Venezuela could raise production to 2.5 million barrels per day over the next decade, up from the current level of 0.8 million, according to analysts at JPMorgan Chase & Co. In the short term, it’s unclear how much oil Venezuela will be able to export due to the political transition and whether flows to China will continue.