Venezuelan oil production in April was 878,000 bpd

According to secondary OPEC sources, Venezuela's oil production increased by 4,000 barrels per day in April, to reach 878,000 bpd

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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