The Daily Journal.- Merey 16 crude, the main benchmark for Venezuelan oil, reached an average price of $90.47 per barrel, marking a historic milestone by surpassing the $90 barrier for the first time in more than ten years.
According to a report by the Venezuelan News Agency (AVN), based on the latest monthly report from the Organization of the Petroleum Exporting Countries (OPEC), the price of Venezuelan crude increased by $4.55 compared to the close of March. This performance contrasted with the trend of the OPEC basket, whose average value declined by $7.57 to settle at $108.79 per barrel.
In operational terms, Venezuela’s oil industry also reported significant progress. The OPEC report, based on secondary sources, certified that Venezuela produced an average of 1.031 million barrels per day (mbd) during April. This increase of 46,000 barrels per day compared to the previous month places Venezuela as the country with the third-largest production growth within OPEC, surpassed only by Libya and the United Arab Emirates.
With information from AVN.
