OPEC: Venezuela’s oil production rose 94,000 barrels in August
OPEC has indicated that during the month of August Venezuela had an increase in oil production, to reach 94,000 barrels per day
The Organization of Petroleum Exporting Countries has indicated that during the month of August Venezuela experienced a 14 % increase in production, reaching 94,000 bpd.
According to the OPEC report, with the figures for Venezuela, in August the average production was 723,000 barrels per day, compared to the drop experienced in July, when 629,000 barrels per day were reached.
The Caribbean country’s crude output has been experiencing ups and downs since the beginning of 2022. It is still far from the goal that Nicolás Maduro had set, of reaching 2 million bpd by the end of this year and 3 million for which comes.
The Venezuelan oil industry was for years one of the strongest in the market. However, during the last decades it has been marked by a lack of investment, management errors, cases of corruption and more recently by the sanctions imposed by the United States.
M.Pino
Click the link to subscribe for free to our news and media group on Telegram: https://t.me/G_ELSUMARIO_News
Source: swissinfo
