It is reported by Reuters with reference to relevant country data received by OPEC representatives.
It is clarified that oil production in Venezuela in June fell to 393 thousand barrels per day against 573 thousand barrels per day in May.
These are the lowest figures since February 1943, when the nascent oil industry of Venezuela provided production of only 353 thousand barrels per day.
The reason for this state of affairs, according to the agency, is American sanctions.
Vyacheslav Kulagin, director of the Center for the Study of World Energy Markets at the Institute for Energy Studies of the Russian Academy of Sciences, assessed the situation in the oil market in an interview with the FBA “Economics Today”.