Venezuela Oil Production Rebounding Towards 1 Million Barrels Per Day Goal After Sanctions Easing
• Venezuelan oil production reaches 850,000 barrels per day, up from 786,000 bpd in October, as country works towards 1 million bpd target • Output recovery aided by U.S. easing of sanctions in October, renewal of licenses for oil services firms in November • Venezuela negotiating potential natural gas exports from offshore Dragon field project with Trinidad & Tobago • Oil traders like Vitol Group rushing to buy Venezuelan crude after sanctions relaxed, booking tankers to load oil • Venezuela home to world's largest oil reserves and hoping to regain market share after years of declining production