Maduro, Venezuela
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Venezuela’s oil decline began years before sanctions, but sanctions still hold the key to how much production could return and how quickly.
Venezuela sits on 303 billion barrels of oil—more than Saudi Arabia. So why does it pump less than 1% of global supply? The answer involves nationalizations, sanctions and crude that's harder to extract than most.
We’ve been checking in on the economic conditions in Venezuela for about a decade now. In response to the U.S. strike and the capture of Venezuelan president Nicolás Maduro this weekend, we’re re-surfacing this episode with an update.
U.S. action in Venezuela has renewed focus on the country’s vast oil reserves, heavy crude challenges, and the expropriations that reshaped the country's oil industry.
The capture of Nicolás Maduro is a devastating blow to the alliance between Venezuela and Cuba. Many wonder if the island nation will be targeted next.
Venezuela holds world’s largest oil reserves, but production collapse due to technical issues, sanctions & politics is impacting global markets
Venezuela’s economy collapsed after 2014—hyperinflation, output drops, and a 70% income plunge despite vast oil.
Cuba’s economy, dependent on cheap Venezuelan oil for decades, now struggles to function as a result of the U.S. military’s buildup in the Caribbean and the sharp drop in oil shipments from Venezuela.
The possible return of a South American oil powerhouse is threatening to exacerbate a supply glut that has already sent prices plunging to near four-year lows.
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