Venezuela crisis

Venezuela's President Maduro Hopes to Revive Economy In Midst of Oil Crisis

October 11, 2016

For Venezuela, a country whose economy desperately depends on its oil industry, the fall in the price of oil continues to wreak economic havoc.  Oil exports constitute 96% of the country’s export earnings[1], and according to the Venezuelan Ministry of Petroleum and Mining, the end of 2014 saw Venezuelan crude oil prices fall to USD 47.05 per barrel compared to USD 95 in September 2014.

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