Venezuela recovers oil production despite US blockade

Despite the coercive and unilateral measures of the United States, the Venezuelan oil industry is recovering and increasing its production, according to reports.

According to official statistics, oil production in the South American country has been maintained over the past three months and shows a slight upward trend, which has also been recognized by the Organization of the Petroleum Exporting Countries (OPEC).

International media published the news on Tuesday and recognized the effectiveness of the Bolivarian Government strategies in this important productive sector.

BBC Mundo, Reuters, among others echo the achievements of the Venezuelan State in that exportable item despite the damage caused by Washington’s sanctions that affected this industry considerably at the beginning of the year, leading the government to seek solutions and stabilize its production.

On December 11, during an OPEC meeting, Secretary General Mohammed Barkindo affirmed that Venezuelan oil is crucial for world development and confirmed that the illegal actions of the United States affect the well-being of its people.

‘Being able to meet the future global demand for oil depends on countries like Venezuela. This means that the imposition of sanctions on Venezuela is also an imposition on OPEC, the other producing countries and in the world oil industry in general,’ Barkindo stressed.

Meanwhile, President Nicolas Maduro announced in Havana the relaunch of the Petrocaribe energy cooperation agreement, a mechanism promoted by the Venezuelan Executive in the framework of the Bolivarian Alliance for the Peoples of Our America-Peoples’ Trade Agreement that emerged on June 29, 2005.

The initiative represented an integration mechanism aimed at boosting regional socio-economic development, by providing energy resources to Caribbean nations through financing under favorable conditions.
Source: Prensa Latina