Venezuela Sees Limited Output Recovery

摘要

Weeks after a massive wave of blackouts knocked the power out across most of Venezuela and led to lengthy stoppages at most oil facilities, crude production in the country is still struggling to recover. Before the outages, which began Mar. 7, estimates of Venezuelan output were in the 800,000- 900,000 barrel per day range - although the country’s economic collapse and US sanctions on state Petroleos de Venezuela (PDVSA) meant that figure was already on a steep downward slide. However, industry sources say production during the worst of the blackouts fell to 500,000 b/d or even lower, as most oil facilities in Venezuela rely on the country’s increasingly threadbare electrical grid (IOD Mar.28’19).