PDVSA closed November with production of 960,000 barrels per day
Internet
Published at: 12/12/2024 07:39 PM
At the close of November, Venezuelan oil production produced 960,000 barrels a day, according to the Organization of Petroleum Exporting Countries (OPEC), Ultima Noticias reported on its website.
It points out that production in the penultimate month of the year exceeded by 27,000 barrels per day the average of 933,000 barrels per day reported by the Bolivarian Government in the third quarter of the year.
So far in these 11 months, Venezuelan crude oil output has risen by 177,000 barrels per day.
On the other hand, in the midst of a general downward trend in the prices of the crude oils that make up the OPEC basket, the 16-grade API Merey, rose $1.28 or 2.2% in November to close at $59.58 per barrel.
This allowed the Venezuelan reference oil to revalue within the OPEC basket, reducing to 22.49% the gap that separates it from the 72.98 dollars at which the basket of the oil exporters organization was quoted.
In October, that gap was 27.70% and had also been narrowing, but it recovered thanks to the quality of the crude oil and the market placement.
So far this year, Venezuela's Merey 16 averages a value of $65.62 per barrel, 2.05% higher than the price reported in November 2023, something that was expected to exceed by 2024.
Meanwhile, the OPEC basket registered an average price of $80.49 at the close of last November.
Venezuela is the country with the largest proven reserves, with more than 302 billion barrels in its subsoil and despite the coercive measures against the industry, which have affected the country since the Obama, Trump and Biden administrations, and the theft of CITGO, the state oil company Petroleos de Venezuela (PSVSA) continues to fight in world markets.
Mazo News Team