Hard to Tell What's Legit From Venezuela

Venezuela said over the weekend that it managed to lift oil production for December. How likely is this? How much discrepancy is there going to be between OPEC's secondary and direct reporting figures come Jan 18th's MMOR?

 

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where did you see this? I only see that production slid further in December ...

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Roger that, Addy. 

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I guess it might be accurate. It's only a small production increase, and from November lows at that.

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And now OPEC has reported that Venezuela's oil production decreased 13% for all of 2017 (that's really really bad). On top of that, according to secondary sources, Venezuela's production, according to MOMR released today, dipped 82,000 bpd in December from already low levels in November. So if production really did pick up, it JUST picked up.

MoMR shoes that Venezuela's directly reported production (as opposed to secondary sources), was 216,000 bpd less in December (from November levels). This is horrible. If Jan levels really are 1.9 million bpd, that would mean a more than 300,000 bpd pick up from this level. DOUBTFUL.

 

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