Tuesday , January 31 2023

Venezuela expects oil production to rise sharply next year


Oil pumpjacks can be seen on May 24, 2018 in Lagunillas, Venezuela. Photo taken on May 24, 2018. REUTERS / Isaac Urrutia

If the Organization of Petroleum Exporting Countries (OPEC) agree to cut production in December, Venezuela hopes to ramp up oil production next year.

The current OPEC oil production in South America is 1.5 million barrels per day, and it is aiming to increase one million barrels "soon" to reporters in Abu Dhabi.

Quevedo held an oil market surveillance commission on Sunday in Abu Dhabi, attended by Saudi Arabia and Russia 's major exporters.

The majority of OPEC and the Organization of Petroleum Exporting Countries (OPEC) in the United Arab Emirates support the reduction of international oil supplies by Mohammed bin Hamad al-Rumhi, Oman Oil Minister, in the capital of Emirati.

"Many of us share this view," the pastor said when asked about the need for cuts. Asked if he could reach 500,000 barrels a day or 1 million barrels a day, he replied, "I think it's unfair to throw numbers now."

Saudi Arabia is discussing OPEC and its allies to cut oil production by up to 1 million barrels a day, Reuters reported on Tuesday.

Venezuela will be obligated to pay off the debt and will partner with Chevron Corp. and other companies, Quebec said. The problem is in the US government.

Dmitry Zhdannikov's report; By Maher Chmaytelli; Janet Lawrence Editing

Our standard:Thomson Reuters Trust Principles.
Source link