Category: Venezuela

The IMF said the economic crisis in Venezuela, one of the founding members of OPEC, is “profound” as a substantial drop in oil production takes its toll. In an outlook Continue Reading

Citgo Petroleum, the U.S. refining unit of troubled Venezuelan state oil firm PDVSA, said that the United States had revoked the U.S. visa of Citgo’s chief executive Asdrubal Chavez, in Continue Reading

Venezuela’s Oil Minister Manuel Quevedo has discussed plans with state-held oil company PDVSA to raise the country’s crude oil production in the second half of the year. While Venezuela and Continue Reading

In the past, oil has accounted for 96 percent of Venezuela’s exports and over 40 percent of government revenues. Now, as the nation’s economy continues to crumble amid sanctions, political Continue Reading

Venezuela oil production has plummeted. Where would oil prices be without Venezuela’s collapse? Where are oil prices headed next? This idea was discussed in more depth with members of my Continue Reading

Feature The tragic — and totally avoidable — self-destruction of one of the world’s richest oil economies. In the spring of 1959, at a secretive meeting at a yacht club Continue Reading

Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut downs were reported for the Continue Reading

Venezuelan crude sales to the United States recovered in June from May as state-run PDVSA exported more of its diluted oil to its customers and drained inventories from two Caribbean Continue Reading