Oil production rises by about 4,000 barrels per day in April

Venezuela’s oil production reached 878,000 barrels per day (bpd) in April, up 0.45% – some 4,000 bpd – from March, when it averaged 874,000 bpd, according to official figures collected in a report published Tuesday by the Organization of Petroleum Exporting Countries (OPEC).

Venezuela recorded a slight increase in crude oil production despite the resumption of sanctions on its oil and gas by the United States, following being suspended for six months.

However, Nicolás Maduro indicated this month that the country closed the first four months of the year with partial losses of more than 2 billion dollars in its income as a consequence of the sanctions, despite the fact that 88% of the days computed by the president correspond to the period in which the measures were suspended.

Although he said that the growth of Venezuela’s economy and its oil industry “maintained” in the first four months, he acknowledged that it was “slower” than expected.

In any case, in statements made on May 1, he predicted that, with “own effort,” the nation would close the year with a production of 1.2 million bpd, which represents an increase of 37% compared to April.