Venezuela's struggling oil economy is shown in six charts.

Six charts show Venezuela's oil production collapsed in the late 2010s and that the country still holds very large oil reserves.

Following the reported capture of President Nicolás Maduro, international attention has focused on Venezuela's oil sector and related policy moves. Oil production fell sharply in the latter half of the 2010s and reached a low point in 2020. The economy reportedly contracted by about 30 per cent in 2020 as oil output declined. Despite low output, Venezuela is described as holding very large oil reserves. Key facts: - The article reports the capture of President Nicolás Maduro and heightened international focus on Venezuela. - Venezuela's oil production declined steeply in the late 2010s and hit a low in 2020. - The economy is reported to have contracted about 30 per cent in 2020 alongside the drop in oil sales. - The article states the U.S. announced selective removal of some sanctions and that 30–50 million barrels would be sold at market price. Summary: These developments highlight how Venezuela's large reserves and reduced production are central to current policy discussions. The U.S. action to allow some oil sales is a visible next step, while broader outcomes and timing remain undetermined at this time.