Venezuela Oil Minister Says Crude Output Tops 1.2 Million Barrels Per Day

The presence of a U.S. government delegation alongside PDVSA at field inspections is the signal worth reading here, not the output figure itself. It suggests Washington is engaging directly with Venezuelan production at a working level, which matters for anyone tracking how sanctioned crude re-enters global flows. Who benefits most is the export and refining chain rather than the wellhead. Whether that engagement translates into sustained output gains, or remains a field-level inspection exercise, is the open question.