Venezuela’s state-run oil company PDVSA  said on Tuesday its debt fell 5 percent in 2018 from a year ago to $34.6 billion, though it remains in default on most of its bonds as crude output has slumped to 70-year lows in an economic crisis. PDVSA, which is short for Petróleos de Venezuela, S.A., has not paid interest on most of its bonds since the end of 2017, and together with Venezuela’s government has accumulated nearly $8 billion in late interest payments. It has remained current on its 2020 bond, whose collateral is its U.S. oil refining subsidiary Citgo. Venezuela blames U.S. sanctions for the payment problems. But critics of the socialist government say President Nicolas Maduro’s mismanagement of […]