Miniature oil well with the OPEC logo in the background. File photo.
The OPEC market report for the month of September, released on Monday, shows a slight increase in crude oil production in Venezuela. The country’s total output is now 943,000 barrels per day—16,000 more than last August and the highest level in the last five years.
Production growth has been almost steady over the past 12 months. In September 2023, production was 786,000 barrels per day.
Regarding the price, the same OPEC report places the price of Merey 16 crude oil, the reference for Venezuela, at US $56.91 per barrel, a drop of US $7.24 compared to the August price of US $62.15.
A report from the United States Energy Information Administration recently placed Venezuela in third place in terms of crude oil supply to the United States, displacing Saudi Arabia.
Translation: Orinoco Tribune
OT/JRE/SL
