Crude Oil Production in Venezuela increased to 933 thousand BPD in August
from 906 thousand BPD in July of 2019. Crude Oil Production in Venezuela
averaged 2.381 million BPD from 1973 until 2019, reaching an all-time high of
3.453 BPD in December of 1997 and a record low of 594 thousand BPD in January
of 2003. Oil production in 2019 by month is listed below.
2019 Million Barrels per Day
January 1.488
February 1.432
March 0.960
April 1.037
May 1.030
June 1.047
July 0.906
August 0.933
Venezuela’s
trade surplus in 2019 has increased to $4.636 billion, with Imports at $3.621
billion and Exports at $8.257 billion. Russia purchased 49% of the state-owned
oil company. Both Russia and China is being paid back their $50 billion loans
to Venezuela in oil.
Total
Government Spending is $2.04 billion and includes
Military
Spending at $465 million.
In 2016, Maduro secured a fresh loan by giving Russian oil
giant Rosneft a 49.9-percent stake in Citgo as collateral. In addition, the
remaining 50.1 percent held by Venezuela's
state-owned oil company PDVSA are also
collateralized under a bond issue owned by
Russia - Feb 13, 2019
Norb
Leahy, Dunwoody GA Tea Party Leader
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