Key insights
- Venezuela's oil output rose to 1.1 million bpd in March, a 158,000 bpd increase from January. This marginal increase in global oil supply could exert slight downward pressure on crude prices, indirectly benefiting US consumers and businesses, but the impact is limited.
Investing.com -- Venezuela’s oil production reached 1.1 million barrels per day in March, according to government data from state oil company PDVSA presented on Wednesday.
The production figure, which includes condensate and gas liquids, marks an increase from January when output stood at 942,000 barrels per day. Acting President Delcy Rodriguez shared the presentation during a virtual appearance at a conference in Miami.
The data represents a rise of approximately 158,000 barrels per day over the two-month period from January to March.
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