Venezuela's declining oil production, due mostly to operational struggles rather than good-faith adherence to OPEC quotas, is costing it nearly $7B annually, says Russ Dallen of Caracas Capital."Venezuela agreed with OPEC to cut production to 1.972M bpd--in other words giving what was already a fait accompli,"he says, nothing it has fallen through that cut to 34k bpd below its quota, even as other members' output increases."Venezuela is producing 437k bpd less than it was 2 years ago, which at Venezuela's average 2017 oil price of $43.60--so far--means Venezula is losing over half a billion dollars every month; $6.9 billion a year."
--News from www.sinopecnews.com.cn
Kolanky, we are mainly manufacturing oil well cementing chemicals and drilling mud chemicals, like cementing filtrate loss reducer, cementing dispersant, drilling sulfonated asphalt, polymer product ect.
Any questions, welcome to contact us by email: email@example.com.