FX.co ★ OPEC Crude Oil Production in Venezuela Remains Steady at 0.80M Barrels in June 2024

The Organization of the Petroleum Exporting Countries (OPEC) has reported that Venezuela's crude oil production has remained consistent, maintaining its output at 0.80 million barrels in June 2024. This data, updated on June 4, highlights no change from the previous indicator for the country.

Venezuela, known for its vast oil reserves, has faced numerous challenges in the energy sector. However, despite economic and political struggles, the country has managed to keep its production levels steady. The unchanged production figure of 0.80M barrels reflects this consistent output amidst global energy market volatilities.

For the United States, this steady production provides a clear signal in terms of import strategies and energy policy planning. As Venezuela continues to hold its production levels stable, stakeholders in the U.S. and other global markets will be closely monitoring subsequent reports for any potential adjustments or shifts in Venezuelan oil production.