Venezuelan crude oil production continued its steady decline and hit a new low in December with just 1.15 million barrels per day produced, unwillingly contributing to the OPEC agreed on production cut even as it had an exemption. Venezuela’s December month-over-month production declined 33,000 barrels per day, according to reports by secondary or non-direct sources, according to OPEC’s latest report issued on Thursday. OPEC agreed in December on production cuts — but it had exempted Venezuela. The new report represents a decline from over 1.2 million barrels in October, an average of 1.25 million barrels in the third quarter and from nearly 1.4 million barrels […]