The Organization of the Petroleum Exporting Countries (OPEC) indicated in a report last week that Venezuelan crude production grew 3.8% in May, reaching 1.17 million barrels per day.

“So far this year, the country’s oil production, which boasts the world’s largest proven crude oil reserves, has increased by 27.6 %, from 924,000 bpd in January, when the United States maintained a blockade on oil tankers entering and leaving Venezuela.”

During the reporting period, the organization recorded an average daily production of 18.82 million barrels (mbd) of crude oil, “some 9.8 mbd (34%) less than the production in February, before the conflict with Iran and the blockade of the Strait of Hormuz.”

M.Pino

Source: notitarde

(Reference image source: David Thielen on Unsplash)

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