Venezuelan oil exports drop in April
Venezuelan oil exports in April reached an average of 420 thousand barrels per day, 28 % less than planned by the state company
Venezuela registered an average oil production of 420,000 barrels per day in April, some 410,000 barrels per day less than the goal established by PDVSA, which projected some 830,000 barrels per day of production for last month.
According to the information provided by Tankertrackers, there was a drop in Venezuelan oil exports of around 28 % compared to the figures reported in March, which in turn were lower by 20 % when compared to February of this year.
Likewise, the data highlights that 95 % of exports in April were destined for China, while the remaining 5 % were sent to Cuba, the country’s main trading partner in Latin America.
The Organization of Petroleum Exporting Countries (OPEC) plans to publish its monthly report on May 12, called the Petroleum Market (MOMR), where the official figure reported by the organization on the South American country will be published.
As will be remembered last March, Tareck El Aissami, Minister of People’s Power for Petroleum in Venezuela, pointed out that “the Venezuelan oil industry is prepared to increase its production and raise it to two million barrels per day.”
M. Rodríguez
Source: bancaynegocios.com
