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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La entrada Venezuela exceeded one million barrels of daily crude oil production in January apareció primero en Bitfinance.

Oil production in Venezuela showed a decrease of 1,000 barrels per day by the end of August according to data submitted by the state Company Petróleos de Venezuela, Pdvsa, to the Organization of the Petroleum Exporting Countries (OPEC).

In Pdvsa’s report, the company says at the closing of the eight month of the year Venezuela produced 927,000 barrels per day, which represents 1,000 b/d less than June, when the production was 928,000 b/d.

Meanwhile, secondary sources said Venezuelan oil production increased, to 863,000 barrels per day in August, +1,27 %.

The gap between official and secondary sources amounts reduced to 5,71 %, about 53,000 barrels per day.

M.Pino

With information from Finanzas Digital

(Reference image source: Unsplash+, in collaboration with Getty Images)

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La entrada Venezuelan oil production decreased by 1,000 b/d in August apareció primero en Bitfinance.

During the month of April, Venezuela’s oil production stood at 878,000 bpd, according to secondary sources from the Organization of the Petroleum Exporting Countries, OPEC.

The increase reaches barely 4,000 barrels per day, according to the organization’s reports, interpreted as stagnation so far this year.

“According to the report from the Ministry of Petroleum, in April Venezuela produced an average of 878,000 barrels per day (bpd), just 4,000 bpd above March extraction, with an average pumping at the end of the first quarter of 864,000 barrels per day.

Compared to the average production of 2023, in the first quarter of 2024 the increase in national oil production was 10.34 % in relative terms and 81,000 barrels per day in absolute values.

However, OPEC figures are lower; specifically at 809,000 bpd, “69,000 barrels less than the pumping recorded by the Venezuelan government and a decrease of 13,000 bpd on average compared to the previous month.”

M.Pino

Source: bancaynegocios

(Reference image source: WORKSITE Ltd. en Unsplash)

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La entrada Venezuelan oil production in April was 878,000 bpd apareció primero en Bitfinance.