In its latest report, the Organisation of Petroleum Exporting Countries (OPEC) showed that Venezuela’s crude oil production fell by 2.8% to 934,000 barrels per day in November, according to “secondary sources.”
The latest monthly OPEC report, which records October’s production, shows a divergence between the figures from the Ministry of Hydrocarbons, which show an increase of 27,000 barrels per day, and secondary sources, which estimate a drop of 7,000 bpd.
According to the latest OPEC report, Venezuela’s oil production has continued to increase since June despite the imposition of new restrictive measures by the United States.
Venezuela’s oil production rose by at least 13,000 barrels per day (bpd) in August, according to the monthly report from the OPEC.
PDVSA sign on a water well drilling platform during FICTEC 2018, an International Science and Technology Fair. Photo: @Testing /…
The Organization of the Petroleum Exporting Countries and its allies (OPEC+), headed by Saudi Arabia and Russia, approved a new crude production increase of 547,000 barrels per day (bpd) this Sunday, effective September. With this move, the coalition finalizes the reversal of the voluntary cuts of 2.2 million barrels per day (mbd) implemented in 2023, completing the process in half the time initially planned.
Venezuela’s oil production saw a slight increase in June, according to the Organization of the Petroleum Exporting Countries’ (OPEC) monthly report.
The monthly report from the OPEC records a drop in oil production of 34,000 barrels per day (bpd) for the month of April.
A Reuters survey reveals that the oil cartel’s crude output fell by 110,000 barrels per day (bpd) last month, driven by cuts in three key members, while Saudi Arabia slashes prices and OPEC+ prepares to increase production.
