Reuters | Venezuela’s oil output running 1.5 million bpd short

Ecuador’s Minister of Hydrocarbons Carlos Perez | REUTERS/Daniel Tapia

HOUSTON (Reuters) – Venezuela’s oil production is running 1.5 million barrels per day (bpd) short of its historic output but it is something that the country must address itself, Ecuador oil minister Carlos Perez said on Monday.

The South American country should address the shortfall on its own, he said on the sidelines of the CERAWeek energy conference, adding: “It is up to (Venezuela) to decide what to do.”

The United Arab Emirates oil minister said on Sunday that OPEC last year discussed member Venezuela’s falling production and offered technical aid to help restore the South American country’s output.

Bron: Reuters

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