Bloomberg News

Venezuela 2012 Oil Output to Stay at 3.01 Million Barrels a Day

November 02, 2011

Nov. 2 (Bloomberg) -- Venezuela will maintain its current crude oil production of 3.01 million barrels a day in 2012, Oil Minister Rafael Ramirez said today during a presentation to the National Assembly’s Finance Committee to discuss the budget.

“We’re going to continue to comply with our OPEC quota until there’s an agreement to change output levels,” Ramirez said. “We’re going to keep working on stabilizing our oil price.”

To contact the reporter on this story: Nathan Crooks in Caracas at ncrooks@bloomberg.net

To contact the editor responsible for this story: Daniel Cancel at dcancel@bloomberg.net


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