Venezuela has the ability to boost crude output by 1 million barrels per day (bpd) by end of the year in its bid to recover lost production, but the oil minister also said on Friday this goal would be “a challenge” for state oil firm PDVSA. FILE PHOTO: Venezuela’s Oil Minister and President of the Venezuelan state oil company PDVSA Manuel Quevedo attends the event launching the new Venezuelan cryptocurrency “Petro” in Caracas, Venezuela February 20, 2018. REUTERS/Marco Bello/File Photo President Nicolas Maduro said last month PDVSA would aim to boost oil production by 1 million bpd this year, and would seek help from Russia, China and OPEC if needed. Output has plummeted under U.S. sanctions and due to an economic crisis. “We hope that by year-end, we will have recovered the lost production, we have the capacity to do so, we’ve said so,” Oil Minister […]