LatinNews Daily - 12 June 2026

*The Organization of the Petroleum Exporting Countries (Opec) has published its latest monthly oil market report, in which Venezuela claimed to have produced 1.18m barrels of oil per day (bpd) in May – up from 1.14m bpd in April. Opec’s own estimate, based on secondary sources, put Venezuelan oil production in May at 1.07m bpd, up from 1.04m bpd in April. The figures were released as Venezuela’s Hydrocarbons Minister Paula Henao yesterday signed an agreement with the British oil firm Shell regarding the development of the offshore Loran gasfield, which spans the maritime border with Trinidad and Tobago. Speaking at the signing ceremony, President Delcy Rodríguez said that the Loran field had gone 23 years without development and said that Shell’s involvement would bring Venezuela closer to becoming an exporter of natural gas.

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