A photo of the first oil platform built by Venezuela's state-owned oil company PDVSA, in Orinoco, Venezuela. Venezuela's oil production fell in May 2020 to 570,000 barrels per day, according to Opec, a decline to levels of more than seven decades ago. AFP
A photo of the first oil platform built by Venezuela's state-owned oil company PDVSA, in Orinoco, Venezuela. Venezuela's oil production fell in May 2020 to 570,000 barrels per day, according to Opec, Show more
How geopolitics led to the production collapse of three major oil players
After a decade of Tripoli, Tehran and Caracas being irrelevant in oil markets, foreseeable political developments could bring 4.5 million barrels per day back from 2021