Venezuela in March 2026: the most important developments in economy
In March 2026, Venezuela's economy was defined by closer ties with the United States. On March 5 the US Interior Secretary said Venezuela would ensure security for mining companies and exceed oil production goals. Several US firms, including Shell and Gold Reserve, signed or received licenses for new oil, gas and mining agreements, and a deal for Venezuela to supply gold to the United States was reached. American Airlines resumed flights from Miami to Venezuela.
On March 25 ExxonMobil confirmed that a team was in Venezuela to evaluate oil opportunities, while the government promised legal security to investors. María Corina Machado told the CERAWeek energy conference that the country could produce 5 million barrels of oil per day. Venezuelan financial assets rallied strongly, with one company bond doubling in value. Separately, the country launched an electricity saving plan to deal with widespread blackouts.
by WorldBrief & Maksim Micheliov | AI-generated summary
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