Crude Oil Production in Venezuela decreased to 1488 BBL/D/1K in January from 1511 BBL/D/1K in December of 2018. Crude Oil Production in Venezuela averaged 2397.41 BBL/D/1K from 1973 until 2019, reaching an all time high of 3453 BBL/D/1K in December of 1997 and a record low of 594 BBL/D/1K in January of 2003.
Crude Oil Production in Venezuela is expected to be 1300.00 BBL/D/1K by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Crude Oil Production in Venezuela to stand at 1200.00 in 12 months time. In the long-term, the Venezuela Crude Oil Production is projected to trend around 1250.00 BBL/D/1K in 2020, according to our econometric models.