CARACAS, Wednesday September 11, 2013 | Update

OPEC: Venezuela's oil output drops 2.42%

Production in August stood at 2.77 million barrels per day

In August, Venezuela made up 8.63% of OPEC total output (File photo)
Wednesday September 11, 2013  01:15 PM
Venezuela's decreasing oil production continued in August according to information disclosed by the Organization of Petroleum Exporting Countries (OPEC) and furnished by Venezuelan authorities.

In its monthly report, OPEC states Venezuelan oil output in August averaged 2.77 million barrels per day, descending 2.42% with respect to a year earlier when output hit 2.84 million barrels.

Compared to July this year, oil output increased 0.69% to 19,000 barrels per day.

In August 2013, Venezuela made up 8.63% of OPEC total output, a slight fall as against August 2012.

Translated by Jhean Cabrera
This is all there is

A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.

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