Venezuela Supports Three Month Opec Extension

(Energy Analytics Institute, 17.Nov.2020) — Opec producer Venezuela continues to support a three month extension of production levels of 7.7 million barrels per day.

“Venezuela ratifies its commitment to continue adopting the necessary decisions to guarantee the stability of the energy market,” Venezuela’s state owned Petroleos de Venezuela (PDVSA) announced 17 November 2020 in official statement, citing comments from Venezuela’s oil minister Tareck El Aissami made during the meeting of the joint monitoring ministerial committee, which was held via video conference from Vienna, Austria.

The production extension measure pretends to contain the impacts to the world oil markets caused by the Covid-19 pandemic.


By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.