Venezuela Claims It Can Quadruple Its Oil Production By The End Of 2021

Venezuela is investing in crude oil production recovery and aims to boost its output four times by the end of the year, to 1.5 million barrels per day (bpd), Oil Minister Tareck El Aissami, a close ally to Nicolas Maduro, told Bloomberg in a recent interview. “Without any financing, with our own money, we’ve been able to invest enough to stop the slide and start a gradual recovery,” El Aissami told Bloomberg. Despite the sanctions and despite the severe crisis which became even more severe with the pandemic and plunge in oil prices…