Can Maduro Meet His Wildly Ambitious Crude Oil Production Targets? ...Middle East

A recurring theme when it comes to Venezuela’s oil industry and national oil company PDVSA are wildly ambitious crude oil production targets announced each year by President Nicolas Maduro. During early January 2021, after the worst of the COVID-19 pandemic had passed, Venezuela’s president announced that PDVSA would be pumping 1.5 million barrels per day by the end of the year. That objective proved impossible to meet with PDVSA announcing in November 2021 that it had slashed the target by a third to one million barrels per day. While…

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