The administration of the state oil company maintains that there is a recovery in production, but the figures show a different reality: the numbers reveal a reduction in production of 94,000 barrels per day or 15% in just twelve months. In a monthly comparison, the reduction has been less, of 3.5%.
The state-owned company achieved its highest production in March 2020, just before the Covid-19 pandemic began. In that month, crude oil extraction totaled 1,696 million barrels per day. But from that moment the oil company has not been able to recover the upward trend and has moved away from the presidential objectives.
The production of private companies live a different reality, but the increase in their numbers has been marginal. In February, private companies reported an oil production of 88,655 barrels per day, an increase of 3%, equivalent to 2,600 barrels per day.