Venezuelan oil production has dwindled to 830,000 barrels per day in December, marking a significant decrease of 130,000 barrels from November. This drop can be attributed to ongoing US sanctions and blockades that have hampered the country's ability to maintain output levels. In contrast, OPEC's overall production remains steady at approximately 29 million barrels per day, reflecting stable conditions in the broader market.
The decline in Venezuelan oil supply may impact the USD/EUR exchange rate as traders respond to shifts in oil prices and geopolitical factors. With the US continuing to enforce sanctions, the implications for global oil markets could lead to increased volatility in currency pairs closely tied to commodities. Traders will be closely monitoring this situation for its potential effects on trading strategies and market sentiment.
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Data Source: FX Killer Analysis Team Updated: 2026-01-09 13:39
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.