"There is certainly a steady drop in Venezuelan oil exports, partly that reflects the blackout, but even if you take the blackout out of it there is a very steady drop of maybe 50,000 barrels a month in production," Abrams told reporters.
Venezuela is currently producing about 1 million barrels a day, but the country's production levels are expected to drop below that level in about a month or two, Abrams said. However, he stressed that US sanctions had nothing to do with Venezuela's oil production dropping from 3 million barrels a day to 1 million.
Today, Special Representative Elliott Abrams provided an update on the situation in #Venezuela. #EstamosUnidosVE pic.twitter.com/FBPhSFOl3j
— Department of State (@StateDept) March 15, 2019
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The confrontation between the United States and Venezuela escalated this year, when on January 23, speaker of the opposition-led National Assembly Juan Guaido declared himself the country's acting president, gaining the immediate backing of the United States, as well as its allies around the world.
READ MORE: PDVSA's Subsidiary Seeking $1.2 Bln Loan Amid US Sanctions Against Venezuela
Russia China, Mexico, Turkey and several other countries continue to recognize President Maduro as Venezuela’s legitimate leader.
