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Gonzalez Urrutia says Venezuela’s recovery cannot be measured only in barrels of oil
🇵🇾 Paraguay /Economy & Trade

Gonzalez Urrutia says Venezuela’s recovery cannot be measured only in barrels of oil

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Named sources New plan
  • Edmundo Gonzalez Urrutia said Venezuela’s recovery must be measured by the lives rebuilt through its oil wealth, not only by production volumes.
  • The agreement announced by the United States and Venezuela would give Washington control of more than 20% of Venezuela’s crude reserves and last 25 years.
  • Acting President Delcy Rodriguez said the deal targets production above 1.5 million barrels per day and could bring Venezuela $209.335 billion at an assumed price of $65 per barrel.

Edmundo Gonzalez Urrutia has challenged the idea that Venezuela’s recovery can be judged by oil production alone. “Venezuela’s recovery cannot be measured only by the barrels it produces again, but by the lives that wealth allows it to rebuild,” he wrote on X.

Venezuela’s recovery cannot be measured only by the barrels it produces again, but by the lives that wealth allows it to rebuild.

— Edmundo Gonzalez UrrutiaHe described what he believes should define Venezuela’s recovery after the oil agreement.

The opposition leader said Venezuela had received “a lot of money before,” but stressed that resources entering the country did not necessarily improve ordinary people’s lives. He asked whether the new oil deal would benefit all Venezuelans or only some of them.

A lot of money before

— Edmundo Gonzalez UrrutiaHe referred to Venezuela’s previous oil revenues while questioning whether resources reached ordinary people.

Gonzalez Urrutia said restoring the oil industry was necessary, but argued that restoring Venezuela meant restoring people’s lives. He pointed to practical signs of recovery, including families rebuilding homes, hospitals meeting patients’ needs, schools remaining safe and teachers living from their profession. He also said public services would need to work and employment would need to allow people to make plans again.

Will oil improve the lives of all Venezuelans this time? Or only those of some?

— Edmundo Gonzalez UrrutiaHe questioned who would benefit from the new agreement.

The United States and Venezuela announced the agreement on Friday. Washington will control more than 20% of Venezuela’s crude reserves under the deal, which is set to last 25 years. Rodriguez said it covers 17 strategic fields with proven potential of 65 billion barrels and aims to produce more than 1.5 million barrels per day. At $65 per barrel, she estimated that Venezuela could receive $209.335 billion. The U.S. secretary of state called the agreement “a great victory for both the American and Venezuelan people.”

A great victory for both the American and Venezuelan people.

— United States secretary of stateHe described the agreement announced by Washington and Caracas.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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