Venezuela’s rig count… EIA

by Jim Colburn • Tuesday, March 13, 2018

Not looking good… From the EIA:

And here is oil production:

“Venezuela’s crude oil production has been on a downward trend for two decades, but it has experienced significant decreases over the past two years. Crude oil production in Venezuela decreased from 2.3 million barrels per day (b/d) in January 2016 to 1.6 million b/d in January 2018. A combination of relatively low global crude oil prices and the mismanagement of Venezuela’s oil industry has led to these accelerated declines in production.”



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