According to the report of the Organization of Petroleum Exporting Countries (OPEC); in the month of January Venezuela exceeded one million barrels of daily oil production.

“Venezuelan production reached the figure of 1,031,000 barrels of daily crude oil based on direct estimates, which means an increase of 33,000 barrels of daily crude oil compared to December 2024,” according to the organization.

However, according to secondary sources, crude oil production in the first month of 2025 was 892,000 bpd, which represents a decrease of 18,000 barrels compared to the previous month.

It is known that the production figure above one million barrels per day “was a goal set by the Venezuelan government, after several years of difficulties in its oil industry.”

According to the data referred to on Wednesday, February 12, the average of the main Venezuelan reference crude, Merey, showed an increase and was quoted at $66.86 per barrel, compared to the $61.13 it had in December 2024.

M.Pino

Source: xinhuanet

(Reference image source: Delfino Barboza on Unsplash)

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