Venezuela to remain major oil exporter

Venezuela will account for 8.13% of Latin American regional oil demand by 2013, while providing 26.46% of supply, according to the latest Venezuela Oil and Gas Report by analyst BMI.

Latin America regional oil use of 6.66 million b/d in 2001 reached an estimated 7.61 million b/d in 2008, according to BMI. It should average 7.57 million b/d in 2009 and then rise to around 8.23 million b/d by 2013, BMI said.

Regional oil production was just under 10.4 million b/d in 2001, and in 2008 averaged an estimated 9.89 million b/d. It is set to rise to 10.58 million b/d by 2013.
PennEnergy