Venezuela targets 3M bpd oil output within decade, PDVSA chief says

PDVSA president Héctor Obregón announced a goal to restore Venezuelan crude production to 3 million barrels per day within ten years, up from the current 1.22 million bpd. The target implies a major reversal of a long decline driven by corruption, underinvestment, and US sanctions, but feasibility is uncertain given infrastructure decay and ongoing sanctions.

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