Venezuela Oil Output to Jump 50% Over Next Decade, Enverus Says

Venezuela’s return to growth in the global oil market following the US capture of long-time leader Nicolas Maduro is forecast to boost crude output by roughly 50% over the coming decade, according to industry consultant Enverus.

Production is expected to reach about 1.5 million barrels a day by 2035. The outlook by Enverus, one of the oil industry’s top forecasting firms, is among the first to analyze a post-Maduro oil landscape for the Caribbean nation, home to some of the world’s biggest crude reserves.