Production at Venezuela’s richest oil fields is declining as U.S. export restrictions in the Caribbean and the threat of onshore strikes further pressure the Venezuelan government. According to internal data from the Venezuelan state-owned oil company PDVSA, production in the Orinoco Belt fell to 498,131 barrels per day on December 29, a 25% drop from two weeks earlier. The company has begun shutting down wells at some oil fields because its storage capacity has been exhausted and it is unable to carry out export operations quickly.