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OPEC Oil Production Up in July – Except for Venezuela – Caracas Capital – 10 de Agosto 2017

Venezuela’s oil production continues to tumble.

According to the OPEC statistics released today, Venezuela’s production has fallen to 1.932 million barrels per day. OPEC production went up — except in Venezuela, Iraq and Angola. “…total OPEC-14 crude oil production averaged 32.87 million barrels a day in July, an increase of 173,000 barrels per day over the previous month. Crude oil output increased mostly in Libya, Nigeria, and Saudi Arabia, while production showed declines in Iraq, Angola and Venezuela.” That 173,000 bpd OPEC production increase comes on top of June’s whopping 393,000 bpd OPEC increase, where Venezuela was the sole country not to have increased production.


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