Venezuela’s PDVSA has reversed output cuts at oilfields in the Orinoco Belt, boosting total production to nearly 1 million bpd. The U.S. oil blockade forced output reductions, leaving barrels stuck in tanks. The Orinoco region now produces over 500,000 bpd, with Trafigura and Vitol granted licenses to export Venezuelan oil. U.S. licenses have helped untangle exports and boost production at the Orinoco Belt.

Read more at Yahoo Finance: Exclusive-Increased Orinoco Belt output boosts Venezuela’s oil production to 1 million bpd, sources say