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Some notable facts about Venezuela’s oil history


Venezuela has been an important oil exporter since the 1920s. See this essay for historical details.

As the chart below shows, It was not until the 1970s that big Middle east oil exporters like Saudi Arabia and Iran overtook Venezuela in oil production

 

1 comment

  1. avatar
    Michael July 31, 2021 1:09 pm 

    If one wants to understand the story of US policies and relations with Venezuela, this posting covers a majority of why things are as they are and why we get the views we get in the US. It does not take a mountain of reading and research to get to the essential basics.

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