The Fuse

Video: Venezuelans Suffer as Oil Prices Languish

by Leslie Hayward | December 02, 2015

In Caracas, Venezuelans are unable to purchase food, antibiotics, or other basic supplies, as the collapse in oil prices has bankrupted the country’s economy. Venezuela’s former energy minister asserts that even the decision to reduce domestic fuel subsidies would enable Petroleos de Venezuela to cover its deficit and cease borrowing money from the country’s central bank, helping to alleviate the financial crisis.

topics: Caracas, Oil Prices, Oil Production, OPEC, Venezuela. PDVSA