The Organization of the Petroleum Exporting Countries (OPEC) reported on Tuesday, July 15, an increase in Venezuela’s crude oil production last month.

According to the OPEC report, data provided by the state-owned oil company Petróleos de Venezuela (PDVSA) reflects that “crude oil pumping was 1,069,000 barrels per day (bpd), representing an increase of 0.28 % compared to May, when it stood at 1,066,000 barrels per day.”

The data also reflects production dynamics in the South American country during the first half of 2025. In this regard, the organization reported that crude oil production “remained above 1,000,000 barrels per day, according to official figures, representing a year-over-year increase of 18 %, compared to the average of 884,000 bpd recorded in the same period in 2024.”

Regarding the next six months, uncertainty remains regarding the local capacity to maintain production above one million barrels per day.

M. Pino

Source: finanzasdigital

(Reference image: Gerhard Crous on Unsplash)

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