How Fast Can Venezuela Restore Its Oil Production?

Venezuelan oil production is down about 750 tb/d in the past few years, with a recent sharp acceleration in the decline due to disputes with unpaid service companies and the ongoing economic upheaval.  While a political resolution to the crisis remains uncertain, both in timing and outcome, the response of oil production should be monitored closely.  Unfortunately, the industry has found it hard to predict the timing of recovery from such disruptions. More…