Venezuela is producing below its new quota in Opec and may not have to cut suppl ...

Venezuela is producing below its new quota in Opec and may not have to cut supply if the oil cartel decides to lower quotas following its June meeting. Venezuela’s total oil output is now near 3.3mn b/d. However, only about 2.8mn b/d of that is covered by its Opec quota, with the remainder including non-quota synthetic crude oil and natural gas liquids.

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