Venezuelan crude production averaged 712,000 b/d in December according to Gas Energy, down slightly from November.

• The Orinoco oil belt produced 447,000 b/d of extra heavy crude, while the nearby Oriente division produced 170,000 b/d of medium to heavy crude.
• Occidente, including the Zulia fields, produced 95,000 b/d on average, reaching as high as 110,000 b/d on some days as Chevron's Petroboscan project came back on line.
• Chevron resuming operations in the country is lifting optimism about production increases from Venezuela but that is being tempered by ongoing infrastructure concerns including power and storage issues at key fields.