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7

Venezuelan Oil Production Decreased

Venezuelan petroleum minister Rafael Ramirez said that the reasons of the decline were sabotage and equipment robbery

Venezuela produces 3.33 million barrels bpd, it?s 87,000 bpd less than the target set by the OPEC, an official of the state-run petroleum firm PDVSA said Tuesday.

Luis Vierma, a PDVSA vice president, said that the OPEC production target for Venezuela is 3.4 million bpd.

Venezuelan petroleum minister Rafael Ramirez said that the reasons of the decline were sabotage and equipment robbery.

Venezuela is the world's fifth largest crude producer and one of the main oil suppliers for the United States.