Ongoing pressure from US sanctions and power blackouts caused Venezuela 's oil supply to fall to a long-term low in March . The country produced 7.5 million barrels per day (bpd) during the month , a drop of almost 500,000 bpd MoM. This is a legacy of old disputes over how much countries were really pumping. This may be a factor in discussions when REUTERS/Isaac Urrutia/File members meet in March to discuss whether to extend oil supply cuts that were introduced for March in January 2019 .
Ongoing pressure from US sanctions and power blackouts caused Venezuela 's oil supply to fall to a long-term low in March . The country produced 7.5 million barrels per day (bpd) during the month , a drop of almost 500,000 bpd MoM. This may be a factor in discussions when REUTERS/Isaac Urrutia/File members meet in March to discuss whether to extend oil supply cuts that were introduced for March in January 2019 .