Venezuela's oil export receipts rose to $5.49 billion in the first quarter of 2026, representing a 21.5% increase compared with the same quarter in 2025, the central bank said on Monday.
The central bank attributed the uptick to increased crude production and higher shipments to markets in the United States and Europe following Washington's decision to ease sanctions. The report also noted that foreign companies have expanded oil and gas projects in Venezuela after the U.S. removed President Nicolas Maduro from power in January.
Non-oil export revenue also climbed in the period, reaching $2.27 billion in Q1 2026, up 15.5% from the corresponding quarter a year earlier, according to the central bank figures.
Data points from the central bank release
- Oil export revenue in Q1 2026: $5.49 billion - up 21.5% year-on-year.
- Non-oil export revenue in Q1 2026: $2.27 billion - up 15.5% year-on-year.
- Total crude export revenue for full-year 2025: $17.1 billion, as reported by the central bank.
The central bank's statement links the revenue increases to an environment in which crude production and exports have risen after policy changes by the United States, and to expanded activity by foreign energy firms following political developments in January. The report does not provide additional operational details, such as volumes, unit prices, or company-level disclosures.
While the central bank supplied headline revenue figures for exports, it stopped short of detailing the composition of non-oil receipts or offering a breakdown by destination beyond the reference to the United States and Europe. The numbers reported confirm higher nominal export receipts in both oil and non-oil categories for the opening quarter of 2026 when compared with the same quarter of 2025.
For 2025, the central bank cited total crude export revenue of $17.1 billion, a figure provided without an accompanying quarterly schedule in the release.
Note: All figures and characterizations in this article are drawn from the central bank announcement issued on Monday.