Venezuelan oil production increased 4 % in February

OPEC reported that Venezuelan oil production increased by 4 % in February compared to the previous month

The Organization of Petroleum Exporting Countries (OPEC) reported in its monthly report that Venezuelan oil production increased by 4 % in February compared to January pumping, based on official figures.

The information highlights that the authorities of the Caribbean country notified the international organization that in February Venezuela produced a total of “788,000 barrels per day (bpd), which represents an increase of 33,000 bpd”, while in January they managed to produce 755,000 bpd of raw.

Other sources secondary to OPEC contradict the information and maintain that Venezuela managed to pump 680,000 bpd in February, which means that the increase is 3 % compared to the figures reported in January, when it reached 658,000 barrels per day.

Two million bpd for December

The representatives of the Venezuelan government recently declared that they aspire to close 2022 with a production of 2 million barrels per day.

“This year we are going to 2 million barrels per day rain, shine or shine. This year we recovered oil production hand in hand with the working class”, affirmed the Venezuelan president.

Different Venezuelan economists, as well as oil experts, consider that Venezuela does not currently have the capacity to achieve the goal established by the executive of 2 million barrels per day. According to his opinions, the country “would not have the capacity to cover the deficit left by Russia in the supply of crude oil”, after the sanctions that the United States Government imposed on it for the invasion of Ukraine.

Last week authorities from the government of Joe Biden arrived in Venezuela and held a meeting with representatives of the national executive that provoked a series of expectations regarding the relaxation of the measures imposed on PDVSA by the US. However, the country ruled out “importing oil from Venezuela, at least for now.”

M. Rodríguez


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