Venezuela to gradually increase oil production
Apr 04, 2000 02:00 AM
Venezuela will increase this year in gradual way its oil production to 3.5 mm bpd, announced Minister of Energy and
Mining Ali Rodriguez. According to an accord following the recent meeting OPEC after April, Venezuela will increase
its offer of 2.72 mm bpd to 2.845 mm, Rodriguez told.
There's a possibility of new increases in the last two quarters of the year, he added. Venezuela will bring forward,
at OPEC's forthcoming meeting, scheduled for June 21 in Vienna, the need for another increase of 525,000 bpd.
Source: Xinhua via Newspage
