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Venezuela's PdV Still Targets 1mn bpd

OIL

Venezuela's state oil firm PdV presented a new oil production plan this week that mostly maintains current levels while trying to resolve bottlenecks.

  • It says that current production is around 800,000 bpd which it intends to stabilise. A number of industry consultants placed production at 720-750,000 bpd last month.
  • PdV maintains that it still intends to try and reach 1mn bpd by the end of the year.

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