Rystad Energy: Venezuela production could fall below 700,000 b/d by 2020

Venezuela’s oil industry has been in a tailspin in recent years, with the country’s crude oil production falling to just 1.34 million b/d at yearend 2018 from 2.4 million b/d in 2015. This freefall is poised to carry over into 2019, according to energy research and consulting firm Rystad Energy.