#PDVSA's ad-hoc board presented a plan to mobilize $99BN in foreign investments to increase #oil production to 3 Mb/d in 8 years. Good luck with that! #OOTT

Venezuela did not have a single oil rig in operation during June – unprecedented in the country's 100+ years of oil history. 

Production reached 570 thousand barrels per day (kb/d) in May, the lowest level since the 1940s; preliminary reports for June indicate an even lower figure: 280 kb/d. 

Venezuela Sells, But Who's Buying? 

https://www.forbes.com/sites/thebakersinstitute/2020/07/08/venezuela-sells-but-whos-buying/

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