Venezuela oil production has plummeted. Where would oil prices be without Venezuela’s collapse? Where are oil prices headed next? This idea was discussed in more depth with members of my private investing community, Value Portfolio . The world is accelerating into an energy crisis, and in this article, I explore the country that has played a leading role: Venezuela. Venezuela Oil Production The following graph illustrates that the oil production in the distressed country has rapidly declined since late 2015, and has fallen off the cliff two years later: In the last nine months, Venezuela’s oil production has dropped from 1.9 mb/d to 1.3 mb/d, and initial reports indicate that it dipped even further in June: Venezuela’s crude production dropped below 1.3 mb/d in June, its lowest monthly production level in 69 years except for a two-month oil strike in December 2002-January 2003 when output briefly dipped below […]