Monthly oil production at a decade low

The Organization of the Petroleum Exporting Countries says that Venezuela registered its biggest monthly oil-production decline in a decade in May. Nonetheless, the president of the state-owned oil company PDVSA says that a price of $50 per barrel is enough for the company to avoid default.

Meanwhile, Venezuelan public workers are now working five days a week again, following a period in which they worked just a two-day week, in order to save energy. Officials say that a severe energy crisis has eased.

 

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