Venezuela Produces More Than 1mn Barrels Per Day Of Crude Oil

Caracas : , Dec 26 : At the end of 2021 Petroleos de Venezuela, a state-owned oil company, exceeded 1 million Barrels per day, twice the amount it had a year earlier, announced Tareck El Aissami, Venezuela’s Oil Minister.
El Aissami, a Christmas message holder on Saturday said that this figure was achieved despite all the sanctions the US has placed on South America.

 Venezuela Produces More Than 1mn Barrels Per Day Of Crude Oil-TeluguStop.com

The Minister stated that “Despite all the threats from the US criminal blockade, there is a people standing upright and at the vanguard: oil workers,” Xinhua reported.

The Venezuelan government oil company had reported an output level of 500,000 barrels/day at the end 2020.However, production rose to 876.100 barrels/day by the end November.

According to the Venezuelan government, foreign currency earnings have dropped by 99 percent between 2014 and 2019.

In September 2020, President Nicolas Maduro stated that for every 100 or so euros the country received from oil sales in 2014 it now receives less than one.

According to government, the country is now in a period of economic recovery that involves diversification and rehabilitation of Venezuelan oil activity.

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