Venezuela increased its daily oil production to 1.072 million barrels in May, marking a 3.97% rise compared to April, according to secondary sources cited in the latest OPEC monthly oil market report. This translates to an increase of 36,000 barrels per day. The data indicates a modest recovery in Venezuela’s oil output. The figures are based on information gathered by the Organization of the Petroleum Exporting Countries (OPEC). This increase comes as Venezuela seeks to boost its economy through increased oil revenues. The report provides a snapshot of global crude oil market conditions and production levels. EL NACIONAL first reported the news.