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Data: OPEC; Chart: Axios Visuals

Venezuela's oil production fell 500,000 barrels per day in March from the previous month, the country reported yesterday.

The bottom line: Despite being home to the world's largest proven oil reserves, Venezuela now pumps around 1/10th of OPEC leader Saudi Arabia's output, and about half of what it produced as recently as 2017.

Flashback: In 2014, Venezuela pumped nearly 3 million barrels of oil daily.

Context: The incredible production recession is the result of crippling U.S. sanctions, which, as Bloomberg reported in February, have half a billion dollars' worth of Venezuela's oil sitting in ships off its coast, and the rapid debilitation of its state oil company under President Nicolás Maduro.

Go deeper: U.S. sanctions cripple Venezuela's oil sector

Go deeper

Updated 8 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events
  6. World: Unrest in Italy as restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.
Updated 10 mins ago - Politics & Policy

Republicans and Dems react to Coney Barrett's Supreme Court confirmation

President Trump stands with Judge Amy Coney Barrett after she took the constitutional oath to serve as a Supreme Court justice during a White House ceremony Monday night .Photo: Tasos Katopodis/Getty Images)

President Trump said Judge Amy Coney Barrett's Senate confirmation to the Supreme Court and her subsequent taking of the constitutional oath Monday was a "momentous day," as she she vowed to serve "without any fear or favour."

Of note: As Republicans applauded the action, Democratic leaders warned of consequences to the rush to replace the late liberal Justice Ruth Bader Ginsburg with a conservative so close to the election, as progressives led calls to expand the court.

Hurricane Zeta makes landfall in Mexico ahead of expected arrival in U.S.

Hurricane Zeta's forecast path. Photo: National Hurricane Center

Hurricane Zeta made landfall on Mexico's Yucatan Peninsula as a Category 1 storm late Monday packing maximum sustained winds of 80 mph, per the National Hurricane Center.

The state of play: Louisiana Gov. John Bel Edwards (D) declared a state of emergency Monday as Zeta strengthened into a hurricane earlier Monday.

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