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LatinNews Daily - 16 July 2018

In brief: Venezuela

Venezuela: Venezuela’s ambassador to the Organization of Petroleum Exporting Countries (Opec), Ángel González, has said that Venezuela produced 1.57m barrels of crude oil per day during the first six months of the year. This compares to 2.25m barrels per day produced in January 2017, on figures reported by Opec. Production figures directly reported by Venezuela’s state-owned oil firm, Pdvsa, have varied from those published by Opec, which often uses information from secondary sources. The International Energy Agency believes that Venezuela’s oil output will fall to 1.38m barrels per day by the end of 2018, the lowest level for 70 years outside of the 2002-2003 Venezuelan government strike.

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