Venezuela May Output Up 23,000 B/D On Month At 2.24 Million B/D-OPEC

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Dimanche 22 nov 2009 | 23:30:04

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Venezuela May Output Up 23,000 B/D On Month At 2.24 Million B/D-OPEC

CARACAS -(Dow Jones)- The Organization of Petroleum Exporting Countries, or OPEC, said Venezuelan oil production was up by 23,000 barrels a day, or 1%, in May compared to the previous month.
OPEC said Venezuela's total output last month reached 2.238 million barrels a day, according to the agency's June oil market report.
The latest data from the oil cartel still shows Venezuelan production slightly above 2 million barrels a day, even after Venezuela made a push in May to convince OPEC and other sources that it was producing close to 3 million barrels a day.
The oil-rich country has retained the services of Inspectorate, a U.K.-based testing and inspection firm, to audit oil shipments leaving Venezuela and has made public several bills of landing in an attempt to convince observers of its higher output level.
-By Raul Gallegos, Dow Jones Newswires; +58-212-905-6338; raul.gallegos@dowjones.com
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