Venezuela’s oil production…Oilprice.com

by Jim Colburn • Saturday, April 14, 2018

Here is Julianne Geiger, Oilprice.com, reporting on OPEC’s monthly report (released Thursday):

”…Venezuela’s production fell by 55,000 barrels per day in March, to 1.488 million bpd. According to the report, Venezuela’s self-reported production fell by a greater amount—77,000 bpd, from 1.586 million bpd in February to 1.509 million bpd in March. Depending on which source information one uses (secondary source vs. direction communication), Venezuela’s production has decreased oil production between 100,000 and 200,000 barrels per day.”

And, this:

”Analyst consensus is that Venezuela is unlikely to pull out of this tailspin. In fact, Venezuela’s position is likely to worsen, with Venezuelan refineries expected to close as crude shortages and underinvestment continue to bite, according to S&P Global Platts.

 

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