Jorge Rodríguez on oil agreements with the US: Venezuela will be the fastest growing economy in the region

Published at: 01/09/2026 03:22 PM

With the signing of new oil agreements with the United States (USA), Venezuela will recover its economic boom and will be the fastest growing economy in the region, said the president of the National Assembly (AN), Jorge Rodríguez.

In this regard, during the presentation of a draft agreement in support of the recent oil agreements signed between the United States and Venezuela, Rodríguez assured that with these contracts signed by the president in charge, Delcy Rodríguez, it will be possible to recover crude oil production, which has been hit by the economic sanctions imposed on our country.

“It's true that oil production can leave money, but to produce oil you have to invest a lot, a lot, money that Venezuela doesn't have. New technologies are needed for production, for example, in the Orinoco Oil Belt and in the so-called exhausted fields of Lake Maracaibo,” he said while assuring that in the fields of Zulia state there are still more than 12 billion barrels that, “with the right technology and the right agreements”, will be extracted.

In the same way, he stressed that the National Executive will remain vigilant of oil revenues and will be severe with sanctions against anyone who intends to embezzle these funds. “Whoever uses one of those dollars to steal them, figuratively, we're going to burn their hands and we're going to put them in jail,” he emphasized.

On the other hand, the president of the Legislative Branch rejected the criticisms that, from within the Venezuelan right, have arisen about the above-mentioned agreements and pointed out that they are in accordance with the provisions of the Hydrocarbons Law approved by the Venezuelan parliament last January.

In this regard, he stressed that after the signing of the agreements with the US, “the phones have not stopped ringing” since different countries of the world have begun to express their intention to sign agreements with Venezuela.

“Those who have dreamed that this oil will remain underground, fall out of that mamón forest, because what is coming is an oil production never seen before, Venezuela will be the fastest growing economy in the region, what is coming is oil production at levels never seen before,” he stressed.