Venezuela Oil Production Falls to Level Caracas Achieved in 1949

“Venezuelan oil production fell again to 1,436,000 oil barrels a day, the Organization of Petroleum Exporting Countries reported on Monday, while the Latin American nation’s oil ministry also admits to an output reduction, but not as steep. Based on ‘secondary sources’ (from shipping firms, energy analysts and media reports) OPEC had Venezuela’s state oil company PDVSA and the few remaining oil partners producing 41,700 oil barrels less between March and April of this year, with crude oil production down to 1.436 million b/d, the lowest output level since the 1949.”

Source: Latin American Herald Tribune – Venezuela Oil Production Falls to Level Caracas Achieved in 1949

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