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Economy

Venezuela says 'a challenge' to recover lost crude output by end 2018

Updated : June 22, 2018 04:46 PM IST

President Nicolas Maduro said last month PDVSA would aim to boost oil production by 1 million bpd this year, and would seek help from Russia, China and OPEC if needed. 
The minister, who is also head of PDVSA, earlier said Venezuela was pumping about 1.5 million bpd of oil.
To meet its commitments to consumers, PDVSA has drawn up a plan to process up to 57,000 bpd of foreign crude in June to fulfil export contracts and reduce purchases of fuels for domestic use.
Venezuela says 'a challenge' to recover lost crude output by end 2018
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