Tuesday, January 9, 2018

Venezuela Oil Production Crashes to 28-Year Low


The oil production of state-owned Petroleos de Venezuela (PDVSA) fell by 100,000 barrels a day in December and stood at 1.7 million barrels per day – the lowest numbers since 1989 –, according to data from the energy market analysis firm S&P Global Platts. This figure is “a minimum that had not been seen since its oil industry suffered the effects of a large strike between December 2002 and February 2003,” according to S&P Global, which uses sources from the Organization of the Exporting Countries of Oil (OPEC). More…

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