U.S. Strike in Venezuela Leaves Oil Production Unscathed

Venezuela's oil production remains steady despite a U.S. operation to capture President Maduro. While the port of La Guaira was damaged, oil exports were halved due to prior U.S. sanctions, and PDVSA faces storage issues. A cyberattack further disrupted operations, necessitating manual systems to continue.

Venezuela's oil industry continues to operate normally despite a recent U.S. military strike aimed at removing President Nicolas Maduro, according to insiders at PDVSA, the state-run energy company. The strike, confirmed by U.S. President Donald Trump, follows intense pressure on Maduro over alleged drug-related crimes and questions of leadership legitimacy.

The nearby port of La Guaira incurred substantial damage during the operation. However, oil exportation remained unaffected at this location, even though existing U.S. sanctions had already reduced Venezuela's oil exports significantly in recent months, slicing them by half compared to November figures.

PDVSA struggles with increased crude inventories due to redirected vessels avoiding Venezuelan waters. Additionally, recent cyberattacks have forced the company to rely on manual systems, affecting its logistical operations, including deliveries and storage processes. This ongoing situation adds another layer of complexity to the country's energy challenges.

(With inputs from agencies.)