Venezuela produced 1.7 million barrels of oil a day, according to S Global Platts, which polled industry officials, traders and analysts and reviewed proprietary shipping data.That’s the lowest since 2002, when a failed coup temporarily took hold of the government run oil company, PDVSA.Other than that, oil production is the lowest in 28 years. It’s down 27% just since 2014, when the country’s economic crisis took hold, according to OPEC and S figures.Related: Venezuela plants its own version of bitcoinThe decline in oil production is prolonging the misery for 30 million Venezuelans.People there are losing weight because of food shortages, and children are dying in hospitals because basic medicine and equipment aren’t available.Malaria, infant deaths and maternal deaths have all increased significantly, official figures show. The government uses money from oil exports to buy what little food and medicine actually make it in.It’s also a sign of mismanagement by the government of President Nicolas Maduro, who succeeded the late Hugo Chavez in 2013.
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