I posted a week ago on oil deals between Venezuela and China (CNPC) to increase production at joint ventures

Bloomberg have more on the details up if you'd like to check it out

In brief:

  • China's to invest $2.2 billion into Venezuelan oil production infrastructure
  • In exchange, Venezuela would send even more oil, around 800,000 barrels a day (current rates are around 550,000 (in September)
  • Deal to be finalised in mid-December

Link for more at Bloomberg

I wonder about the implications for the OPEC/non-OPEC meeting on November 30, production cuts etc.???