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Financial News: VENEZUELA: PDVSA Wants To Produce More Than 2

VENEZUELA: PDVSA Wants To Produce More Than 2 Million Bpd Of Crude In 2018

01/15/2018 - 17:01:00 (RTTNews)

(RTTNews) - Venezuelan state-owned oil company PDVSA aims at increasing its crude oil production, currently at 1.9 million thousand barrels per day, to 2.5 million bpd, said Manuel Quevedo, the company's chairman, in a televised interview.

"We already took the first steps. The 1.5 million level was left behind, and we are already close to 1.9 million a day, and I thank the workers for these achievements," said Quevedo.

Regarding PDVSA's lower production in the last few years, Quevedo said that it was due to the drop in oil price abroad, which in 2016 reached US$ 20 per barrel.

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