PDVSA reported Orinoco Belt production reached 500,000 barrels per day in February 2026, up 100,000 barrels from early January after U.S. intervention, a milestone that signals a potential rebound for Venezuela's heavy-oil sector. Context The Orinoco Belt, a 21,000-square-mile arc in central and eastern Venezuela, holds an estimated 1.3 trillion barrels of oil in place and 380-652 billion barrels of technically recoverable oil, making it the world's largest heavy-oil resource. Historically it has supplied 50-70% of the country's output. Key Data By March 2026, OPEC data showed production had climbed to 988,000 barrels per day, an 8.7% rise over February and 8.5% higher than the same period a year earlier. U.S. Energy Information Administration data indicated January 2026 shipments surged 45% month-over-month to nearly 6.2 million barrels, five times the 1.2 million barrels imported in January 2023. However, the sector faces severe environmental headwinds. Over 10,000 idle wells and more than 12,000 wells in total, of which fewer than 2,000 are active, leak petroleum into the Orinoco River basin, threatening more than 1,000 fish species, crocodiles, dolphins, and local drinking water supplies. Corroded wellheads, pipelines, and storage facilities, accelerated by the extra-heavy crude's high sulfur content, are expected to require tens of billions of dollars to remediate before production can rise sustainably. The 2022 spill traced back to a well in the Perdenales oilfield, part of the Perenco -controlled joint venture, highlighting the risk posed by idle infrastructure. Industry analysts note that the environmental liability is a significant deterrent to foreign investment, as the cost of remediation and the risk of spills weigh heavily on investor sentiment. Outlook Despite the environmental challenges, the Orinoco Belt remains a key driver of Venezuela's petroleum-led recovery. With regulatory reforms easing foreign investment and Chevron 's recent agreements to expand heavy-oil operations, production could continue to climb, provided that remediation costs are addressed and infrastructure is upgraded.