All Quiet on the Venezuelan Front?

I haven't heard much news in the way of Venezuela's oil industry in the last few days, but this morning I saw that a Bloomberg survey of analysts had estimated that Venezuela's production dipped another 100,000 bpd in March. That's a HUGE drop for someone who only produces 1.58 million bpd. 

per OPEC secondary sources:

loss in Feb from Jan: 52,400 bpd

loss in Jan from Dec: 46,000 bpd

loss in Dec from Nov: 152,000 bpd

loss in Nov from Oct: 46,000 bpd

loss in Oct from Sept 26,000 bpd

Hello, death spiral.

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Socialism at it's best!

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