The Organization of the Petroleum Exporting Countries’ report, published in June, placed Venezuela’s oil production at the end of May at 1,066,000 bpd; a slight increase compared to April’s 15,000 bpd.

According to these OPEC data, Venezuela “maintained an average of around one million barrels per day during the last quarter.”

However, according to secondary sources within the organization, the trend is the opposite; That is, “average Venezuelan crude oil production in May was 896,000 barrels per day, a drop of 32,000 barrels compared to April, and represents the lowest volume recorded so far this year.”

According to these sources, production from January to March was 926,000 barrels per day, a figure below the official figure. In April and May, the average fell to 912,000 barrels per day.

In this context, however, last month’s volume was 28,000 barrels per day higher than the 2024 average, “estimated by these same sources at 868,000 barrels per day.”

M.Pino

Source: elnacional

(Reference image source: Moritz Kindler on Unsplash)

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