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Venezuela Oil Problems

The growing problems for oil in Venezuela

As OPEC’s economically weakest member, Venezuela was one of the organisation's strongest advocates for cuts in production in order to raise global oil prices but it faces significant problems in oil production, exporting and revenues
Venezuela Oil Flag

Venezuela facing falling oil output and rising debts

This post gives an overview of the current problems in the Venezuelan oil market hit by rising debts and plunging oil revenues. What is needed is a significant rise in both the price of oil and the volume of exports; but neither looks likely at present and both add to the country's already substantial economic woes.