VENEZUELA OIL – Venezuelan oil output now well short of Maduro’s lofty 2022 target

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Venezuelan oil production, which has fallen by 28 percent since last December after briefly recovering in the latter part of 2021, is slipping farther away from President Nicolas Maduro’s target of 2 million barrels per day by year’s end.

An increase of 218 percent above July’s level of 629,000 bpd is now required to reach that ambitious goal.