Crude Oil Production in Venezuela decreased to 1434 BBL/D/1K in September from 1448 BBL/D/1K in August of 2018. Crude Oil Production in Venezuela averaged 2404.14 BBL/D/1K from 1973 until 2018, 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 1370.00 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 1180.00 in 12 months time. In the long-term, the Venezuela Crude Oil Production is projected to trend around 1500.00 BBL/D/1K in 2020, according to our econometric models.