Venezuela takes advantage of the current energy situation. File photo.
The price of Venezuelan crude oil averaged $88.70 last May on the international market, while oil production averaged 824,200 barrels per day, said Venezuelan oil expert Werther Sandoval.
With regard to the energy market in the context of the war in Ukraine, and the blockade of Russia by the United States and its allies in the European Union, Sandoval said that the situation benefits Venezuela, while countries that have sanctioned Russia are suffering the consequences of the rise in crude oil.
“The data reveals that the price of the Venezuelan flagship oil, Merey16, climbed $5.30 compared to the average last April, while it climbed $33.81 dollars compared to the price set in December 2021,” Sandoval said to Ultimas Noticias.
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In addition, Sandoval noted that the average price of a barrel of OPEC oil rose in May to $113.94 from $105.52 the previous month, a 7.98% increase. In the last 12 months, the price of a barrel of OPEC oil has increased by 70.29%.
For its part, Venezuelan oil production closed in May with an average of 824,200 barrels per day, higher than the year average of 793,000 barrels per day.
US pressure on OPEC to lower oil prices has had no effect. Meanwhile, Venezuela continues to show recovery in its production and, little by little, it is regaining its position as an important actor in the international energy landscape.
Translation: Orinoco Tribune
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