Middle East Economic Survey


No 18



How Much Oil Has Venezuela Really Been Producing?

By Juan Carlos Boué

Dr Boué is Senior Advisor to Venezuelas Ministry of Energy and Petroleum.

At the 101st meeting of the OPEC Conference in November 1996, it was decided that, from then on, the output of crude oil of the member countries for the purpose of assessing compliance with their respective quotas would be determined on the basis of production estimates published by six secondary...