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Venezuelan oil production continues slump

Christian Fernsby ▼ | September 18, 2020
Venezuela’s crude output remained at historically low levels in August.
Venezuelan oil
Slump   Venezuelan oil
The monthly figures from the Organization of Petroleum Exporting Countries (OPEC) place the country’s August production at 340,000 barrels per day (bpd), barely up from 339,000 bpd in July, according to secondary sources.

Topics: Venezuela

The numbers reported directly by state oil company PDVSA stood slightly higher at 396,000 bpd, up 4,000 bpd compared to July.

Venezuela’s main industry could be set for another boost following the arrival of an Iranian very large crude carrier (VLCC). The tanker allegedly had its Automatic Identification System tracker switched off en route before docking at the Jose Antonio Anzoategui oil terminal in east Venezuela on Sunday.

The Iranian ship reportedly unloaded 500,000 barrels of condensate at the Petropiar joint venture.