Oil Prices Rise As Maduro Warns That “Naval Blockade” Hits the Global Economy
A U.S. military helicopter flew over the Centuries, a Panama-flagged vessel that was intercepted on Saturday east of Barbados in…
Economy
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OPEC: Venezuela’s oil production fell slightly to 934,000 bpd in November
In its latest report, the Organisation of Petroleum Exporting Countries (OPEC) showed that Venezuela’s crude oil production fell by 2.8% to 934,000 barrels per day in November, according to “secondary sources.”
UNDP Venezuela Forecasts 6.9% Growth and 500% Inflation for End of 2025
The United Nations Development Programme (UNDP) estimates that the Venezuelan economy will end the year 6.9% above 2024 levels, while inflation could reach 500%.
Reuters: Venezuela’s oil exports rose to 920,000 bpd in November
Venezuela’s oil exports reached 921,000 barrels per day (bpd) in November, according to shipping data and documents seen by Reuters.
Venezuela Revokes Concessions for Six International Airlines That Suspended Flights Over Security Alerts
Venezuela’s National Institute of Civil Aeronautics (INAC) announced late on Wednesday evening the revocation of the concession for six airlines that suspended international flights with Venezuela: Iberia, TAP Air Portugal, Avianca, LATAM Airlines, Turkish Airlines, and GOL Linhas Aéreas.
Venezuelan Aeronautical Authority Demands Airlines Resume Flights Within 48 Hours Under Threat of Suspension
The International Air Transport Association (IATA) on Monday requested “clarity, dialogue, and flexibility” following the temporary suspension of flights in Venezuela. This came after the country’s aeronautical authority announced an ultimatum for the resumption of flight frequencies, warning that failure to comply would result in the suspension of traffic rights.
Turkish Airlines Cancels Flights to Venezuela Until November 28
Turkish Airlines announced on Sunday that it is canceling its flights to Venezuela between November 24 and 28, joining five other airlines that have also temporarily suspended their operations due to the US military escalation in the Caribbean.
International airlines stop operations in Venezuela after FAA warning
International air traffic to Venezuela suffered a blow on November 22, after four airlines suspended their flights following a security alert issued by the United States Federal Aviation Administration.
Venezuela’s National Assembly Approves Extensions for Joint Ventures with Russia
Venezuela’s National Assembly on Thursday approved extensions for two joint ventures with Russian state-owned company Petromost, Petroperijá and Boquerón, allowing them to continue their production from 2026 until 2041.
What does the OPEC’s November report say about Venezuela?
The latest monthly OPEC report, which records October’s production, shows a divergence between the figures from the Ministry of Hydrocarbons, which show an increase of 27,000 barrels per day, and secondary sources, which estimate a drop of 7,000 bpd.