Venezuela to stop drilling 189,000 bpd to observe OPEC cut

The vennies are not slowing the flow but stop drilling for oil ,so more unemployed people and a good chance to get people to work by starting the gold mining industry rolling

Energy

Oil Minister Rafael Ramírez said that Venezuela's sharing in the reduction means to lower the domestic output by 189,000 bpd

Rafael Ramírez, the Venezuelan Minister of Energy and Petroleum, said he was happy with the output cut resolved on Wednesday by the Organization of Petroleum Exporting Countries (OPEC) by 2.2 million bpd during its meeting in Oran, Algeria.

The minister said that Venezuela's sharing in the reduction means to lower the domestic output by 189,000 bpd.

"Yes, we are pleased," commented Ramírez. "It must be done this way. The stocks are much larger than necessary," he added.