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Home >> Business
UPDATED: 11:28, June 22, 2005
Venezuela's petroleum output below OPEC-set target
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Venezuela produces 3.33 million barrels per day (bpd), 87,000 bdp less than the target set by the Organization of Petroleum Exporting Countries (OPEC), an official of the state-run petroleum firm PDVSA said Tuesday.

Luis Vierma, a PDVSA vice president, said that the OPEC production target for Venezuela is 3.4 million bpd.

Petroleum minister Rafael Ramirez attributed the fall to sabotage and equipment robbery.

Venezuela is the world's fifth largest crude producer and one of the main oil suppliers for the United States.

Source: Xinhua


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