No 5



Venezuelan Production Rises As OPEC Members Blame War Jitters For High Prices

Strike-bound Venezuela managed to increase oil production over the last week although the rise has done little to dent high oil prices, which OPEC ministers and officials have insisted are the result of war jitters rather than an actual deficit in OPEC oil supply. Venezuelan Energy Minister Rafael Ramirez said on 29 January that production had risen to 1.427mn b/d, compared with the...