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Venezuela’s Oil Production Rises, Yet Falls Short of Targets

Venezuela closed 2023 with a slight increase in its oil production, according to the latest data from the Organization of the Petroleum Exporting Countries (OPEC).

In November, the country produced 801,000 barrels per day (bpd), according to primary sources, and 780,000 bpd, according to secondary sources.

This marks an increase of 15,000 and 23,000 barrels per day, respectively, compared to October.

The numbers for November also exceeded the averages recorded in the first three quarters of the year.

The third quarter had the highest peak during these quarters, with 764,000 barrels per day.

Despite these. . .

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