Venezuela Output Declines in December as Funds Slow to Arrive
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Venezuela’s oil production slid for an eighth consecutive month in December, a Bloomberg survey showed, as delays obtaining external financing hamper efforts by Petroleos de Venezuela SA to arrest production declines.
Venezuela, Latin America’s largest oil producer and exporter, produced 2.45 million barrels a day in December, down 235,000 barrels from November, according to a Bloomberg survey of oil companies, producers and analysts. Monthly output has been falling since April, the survey showed.