Venezuela pledges wage hike, says oil output rises 10% after deadly quakes

Venezuela's acting president Delcy Rodriguez promised on April 8, 2026 a "responsible increase" in wages to counter years of inflation-driven erosion. She also said the country's oil output rose to 1.2 million barrels per day - about 10% higher than a year ago - and remained unaffected by the June 24 twin quakes that killed over 4,500 people in La Guaira and Caracas. Rodriguez added that reforms rolling back two decades of state control aim to boost foreign investment in the sector, which sits mainly in Lake Maracaibo and the Orinoco Belt.

For Nigerians, this matters because Nigeria, as an OPEC oil exporter, feels the ripple of any shift in global crude supply. Venezuela's output climb could ease or tighten world prices, directly affecting Nigeria's revenue and budget planning. The opening of Venezuela's oil sector to foreign firms may also signal regional investment trends worth watching. Meanwhile, the quakes' heavy toll in coastal oil-proximate areas reminds us of disaster risks facing our own shoreline facilities.

What should you know or do? Keep an eye on international oil price reports for personal budgeting and investment cues. If Venezuela's reforms attract capital, consider whether similar opportunities exist domestically. And take a cue from the tragedy: review emergency plans for coastal installations and communities, because preparedness saves lives when the earth shakes.

SOURCE: https://www.channelstv.com/2026/07/14/venezuela-oil-output-not-affected-by-quakes-president/