Venezuela says easy peasy

Venezuela is saying it will be no problem to raise its production by 1 million bpd. They say this as their production continues its freefall, mind you.

 

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as everyone else is eyeing another shortage setback in Venezuela, to boost oil prices to a predicted $80

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I'm not holding my breath for Venezuela's production to increase by 1mbpd--Iraq would be screwed if that were the case, because I think OPEC would pressure Iraq to comply if Venezuela wasn't offsetting. Right now, OPEC's compliance is petty high, so they can say they're doing their job.

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