Tag Archives: Venezuela

Venezuela’s crude production could soon sink to below 1 million bpd.

OPEC member Venezuela last year produced more than 2 million bpd.

Tthis country is the biggest in terms of crude oil reserves.

Experts and analysts are skeptical that the Venezuelan cryptocurrency is really backed by oil assets and minerals.

Venezuela. which pumped 1.22 million b d in August. could see output fall to 1 million b d in 2019.

Over a decade. oil-for-loan agreements helped China secure energy supplies for its fast-growing economy.

Saudi Arabia lifted output by 70.000 bpd to 10.42 MMbpd last month.

Maduro last month said the country’s gasoline prices. the lowest in the world. should rise to international levels.

Venezuelan crude oil production averaged about 1.500.000 barrels per day during the first semester of 2018.

Venezuela is coping with one of the worst economic disasters in the world.