INSUBCONTINENT EXCLUSIVE:
Venezuela closed 2023 with a slight increase in its oil production, according to the latest data from the Organization of the Petroleum
Exporting Countries (OPEC).In November, the country produced 801,000 barrels per day (bpd), according to primary sources, and 780,000 bpd,
according to secondary sources.This marks an increase of 15,000 and 23,000 barrels per day, respectively, compared to October.The numbers
for November also exceeded the averages recorded in the first three quarters of the year.The third quarter had the highest peak during these
authorities.For instance, in August, the Venezuelan government declared its highest oil production of the year at 820,000 barrels per day,
closely followed by May with 819,000 barrels per day.The slight rise in November represents a 1.90% increase compared to the previous month,
(Photo Internet reproduction)Secondary sources indicated an even larger increase of 3.03%, from 757,000 bpd in October to 780,000 bpd in
over two million barrels per day.Strategies to mitigate international sanctionsVenezuela initiated strategies to ease international
sanctions, negotiating with European oil firms and forming a 20-year pact with Iran.In late 2022, with a special US license, agreements
permitted Chevron to restart limited exploration and production operations in Venezuela.Despite the growth observed, OPEC cautions that
there are still many uncertainties surrounding the global oil market.In response, many OPEC+ member countries, including Russia, have
voluntarily decided to cut their supply to help maintain stability in the global oil markets.The alliance, led by Russia and Saudi Arabia,
