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Chevron Venezuelan Crude Output Rises to 90kbpd

OIL

Chevron’s crude oil output in Venezuela has risen by around 40kbpd to 90kpbd since the US eased sanctions against the country last year, the company said.

  • "We are continuing to work on the ground to expand production, but it's too early to guide to anything", Chevron chief executive Mike Wirth said.
  • The company previously said production could rise to 200kbpd but the country's oil infrastructure is in deep disrepair following years of sanctions and neglect.

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