(Energy Analytics Institute, Piero Stewart, 14.Jan.2019) — Venezuela’s President Nicolás Maduro announced plans to focus on efforts to raise crude oil production in the OPEC member country to 5 million barrels per day (MMb/d) by 2025.
Venezuela continues to suffer a corruption-induced economic collapse with has severely affected the country’s oil sector and its ability to stop production declines, let alone maintain or boost oil production.
“Personally, I’ll assume leadership of the oil industry as of today, and ask for the maximum support of the oil workers to achieve it,” announced Maduro in a broadcast on Venezuelan state television.
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