Venezuelan oil production a ‘concern’ for U.S.

The U.S. government is concerned about falling crude oil supplies from OPEC member Venezuela, a senior U.S. government official said Wednesday.

Declining oil output from Venezuela since 2001 “is a concern to world oil markets and has not been helpful to world oil consumers, particularly developing countries in our own hemisphere,” the official told Reuters on condition of anonymity.

“Working with major oil producers and consumers, the United States is able to offset a severe oil supply disruption including from Venezuela,” the official said.