Oil exports in Venezuela fell to 420,000 barrels per day in April, which represents a decrease of 28% compared to production in March, when there was a record of 583,000 barrels per day.
These exports are 410,000 barrels per day below the goal of the state-owned PDVSAwhich established a production of 830,000 barrels of oil per day for that month.
Venezuela sent 95% of its exports to China in April, while the remaining 5% went to Cuba, its main ally in the region. This was indicated by data documented by tankertrackers.
Venezuela is still far from reaching the goal set by Maduro of 2 million barrels of crude per day by the end of 2022.
“This year we are going to 2 million barrels per day rain, shine or shine. This year we recovered oil production hand in hand with the working class,” said the ruling party in March in a speech broadcast by Venezolana de Televisión (VTV).
In fact, economists and oil experts are not confident that crude oil production will reach 2 million bpd. They assure that the country does not have the capacity to cover the deficit left by Russia in the supply after the sanctions of the Joe Biden government for the invasion of Ukraine.
#VenezuelaApril 2022: Oil exports 420 thousand barrels/day according to https://t.co/MbdXt3cnmX; Destinations: #China 95% and #Cuba 5%; Net Income: USD 534 Million. 410 thousand barrels/day below the goal of the Maduro regime pic.twitter.com/wfC43kKEIq
— InterAmerican Trends (@iatrends) May 1, 2022
