A post by @FirstSquawk on X.

Venezuela’s crude output is holding near 1.2 million barrels per day, well under its roughly 3 million bpd peak, according to First Squawk. Acting President Delcy Rodriguez said the country expects close to $76 billion of oil and gas investment over five years. Industry executives cautioned that any meaningful production increase may not arrive until 2028. The gap between the headline funding target and the slow timeline matters because it signals that near-term supply gains from Venezuela are unlikely to materialize quickly. Watch whether the pledged capital converts into signed projects and drilling activity, and whether output moves above the 1.2 million bpd level before the 2028 horizon.