19 MAR

Venezuela’s oil criss can’t be stopped

Oil Pump Workers VenezuelaREUTERS/Isaac Urrutia

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  • Venezuela’s oil production keeps slipping.
  • Making matters worse, the countries’ debt is swallowing up its cash reserves. 
  • The trend is set to continue.

Venezuela’s oil production fell by another 52,000 bpd in February from a month earlier, according to OPEC’s secondary sources data.

That put Venezuela’s oil output at 1.548 mb/d for February, down 100,000 bpd since December and down 600,000 bpd from 2016. Output will almost certainly continue to head south for the foreseeable future.

See the rest of the story at Business Insider

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Post Author: martin

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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