Venezuela’s OPEC output falls 26,700 bpd to 2.35 mm bpd

Oct 17, 2007 02:00 AM

Venezuela's average production in September fell 26,700 bpd from August levels to 2.35 mm bpd, OPEC said in its monthly oil market report.
Venezuela also lost a total of five rigs in September, bringing the country's total count to 73, according to the report. Total OPEC production rose 245,300bpd to 30.6 mm bpd.

Venezuela's state oil company PdVSA in September said OPEC had made a mistake when documents posted on the cartel's website showed the country's output ceiling had been reduced to roughly 2.5 mm bpd from the previous quota of 3.2 mm bpd.
PdVSA maintains production stands at around 3 mm bpd. PdVSA said in August that 112 rigs were operating in Venezuela and the company plans to end 2008 with 130 active rigs.

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