Enverus: Venezuela To Increase Oil Output 50% By 2035

Industry consultant Enverus has predicted that Venezuela will increase oil production 50% and hit 1.5 million barrels a day by 2035 following the capture of long-time leader Nicolas Maduro by the Trump administration. In its most bullish scenario, Enverus envisions Venezuela’s production tripling to 3 million barrels per day over the next decade. However, Enverus has predicted that the 30-50 million barrels that Trump ordered Venezuela to relinquish to the U.S. will not have a major impact on global markets. “Even with accelerated…