Venezuela maintains highest level of oil production, says minister
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The Venezuelan minister of energy and petroleum, Rafael Ramirez, has said that the country's production of oil is on average at the highest level of 3.3 million barrels per day, eluniversal.com has reported.
Member of the Organisation of Petroleum Exporting Countries (OPEC) either maintained or increased their output of oil last month, according to the statistical department of the US department of energy.
The total oil production from OPEC nations increased by 510,000 barrels per day last month, reaching 31.47 million barrels per day, the news provider reported.
Mr Ramirez, who is the chief executive officer of the state-run oil company, Petroleos de Venezuela (Pdvsa), said last week that the country will be offering private companies the opportunity to develop three oil-producing areas of the Orinoco Belt, according to the Calgary Herald.
This follows recent news that Venezuelan President Hugo Chavez announced he expects the price of oil to continue rising over the coming months, potentially reaching $200 a barrel (£103).
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