#Venez #oil #prodn fallen by 70% over past 2 decades from m 3.1 mb/d in 2005 to 0.9 mb/d in 2024. Over 5yr (2020 to 2024), Venez completed only 190 new oil #wells (completed 1,560 in 2007 alone). The number of active #rigs in the country has fallen from a high of 221 in 2014 to 3 in 2024.