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Venezuela’s May Crude Production Rose: PDVSA

OIL

Venezuelan oil production in May reached 837.6kbpd according to preliminary figures from PDVSA seen by Argus, up from the 820kbpd reported for April.

  • This would be the highest level in over a year. Argus estimated Venezuelan production in April at about 750kbpd.
  • PDVSA said last month it expected to boost the country’s oil production to 1.17mbpd by the end of the year, but the country continues to face logistical bottlenecks in production, storage, and production.
  • PDVSA’s crude and refined products exports averaged 606.3kbpd in May according to Reuters vessel-tracking data.

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