"The oil won't return to 100 [dollars per barrel], it won't return. We have to generate new sources of income to the country," the president said, speaking at Venezuela's National Assembly Wednesday, as quoted by Nueva Prensa De Guyana daily.
Venezuela's economy relies on oil production to a great extent, with oil accounting for 95 percent of the country's exports and comprising 45 of budget revenues.
Last month, Maduro accused Washington of deliberately lowering global oil prices.
Since June 2014, oil prices have dropped by more than 40 percent due to oversupply in the market, and are currently under $50 per barrel. Organization of Petroleum Exporting Countries (OPEC) kept its oil output quota at 30 million barrels per day in November, contributing to a further slump in oil prices.
