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Brazil, Colombia and Mexico will replace Venezuela in the market of crude oil

Бразилия, Колумбия и Мексика заменят Венесуэлу на рынке сырой нефти

Crude oil production in Venezuela will continue to decline if us sanctions will remain in force, and now it is expected to reach 750,000 barrels per day in the course of this year, which is about 560000 barrels per day less than, about 1.3 million bpd for 2018.

This, however, gives the opportunity to other producers, especially those nearby, to expand their production quickly to fill this gap. Because in the near future the political situation in this Latin American country is unlikely to improve the situation quickly changes, and projections suggest that within a few months the volume of production in the region would be somewhat different. The trend observed so far, is of Venezuelan extraction, rapidly decreasing, as shown in the chart below.

Бразилия, Колумбия и Мексика заменят Венесуэлу на рынке сырой нефти

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