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Venezuela was the third largest oil producing country in the world in 2011, but since then, crude oil production has fallen by 42.5 percent, as reported by the Organization of the Petroleum Exporting Countries (OPEC).
] Since 2012, OPEC has increased its production by 7.7%, while in Venezuela, it has decreased. By that date, Venezuela produced 2.9 million barrels a day and for 1.9 million barrels a day, he reported La Voz de América .
National oil production fell to 1.3 million barrels a day, which is 40% less in 10 years. Now, the country ranks eighth in the oil producing countries, among the 15 members of the agency.
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