Running on Empty

Venezuela’s Oil Production Woes Will Be Felt Widely
The consequences of the continuing shortfall for Venezuela, its president, Hugo Chavez, his close ally Fidel Castro, Central America, OPEC and the U.S. could be far reaching.

At the beginning of May, the Associated Press reported that Chavez had admitted that production levels in Venezuela’s Western oil fields were less than expected. Chavez, according to AP was concerned because production had fallen at least 100,000 barrels from the expected one million barrels per day that the fields can potentially produce.
Financial Sense Online