NO. 47


Oil Supplies & Gulf Crisis

Venezuela Starts Production Increase

Venezuela will immediately begin increasing its crude oil production due tothe crisis in the Gulf, but the extra output will be put into storage and notsold on the market for now, according to Energy Miniser Celestino Armas."We have given instructions to the oil industry immediately to begin aprogram to increase our inventories," Mr. Armas told a congressionalsteering committee on 23 August. But...