(Energy Analytics Institute, Piero Stewart, 12.Sep.2018) — Crude oil production in August 2018 in South America’s lone OPEC member countries, Venezuela and Ecuador, continued along usual trends, according to data published in the organization’s September 2018 Monthly Oil Market Report
Crude oil production in Venezuela, the country with the world’s largest oil reserves, fell to 1,235 thousand barrels per day (Mb/d) in August 2018 compared to 1,272 Mb/d in July 2018, according to OPEC data from secondary sources.
On the other hand, Ecuador’s crude oil production rose to 529 Mb/d in August 2018 compared to 525 Mb/d in July 2018, according to OPEC
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