According to OPEC’s latest
It has not yet become clear why Venezuela replaced its governor, and when exactly the change took place. Its oil ministry has not responded to a Reuters request to comment on the matter.
But the ministry
Venezuela’s heavily-oil-dependent economy has been plunging since oil prices started crashing in 2014, and as Maduro is consolidating his grip over the country, inflation is
Therefore, it should not be surprising that Venezuela is desperate for OPEC to clinch a deal on the proposed production limit of between 32.5 million bpd and 33 million bpd. Venezuela
Now Venezuela is not only pushing for a deal, but it has also joined Iraq in
However, at the November 30 meeting to discuss the deal’s specifics, Venezuela will not be the heavyweight that will lead and swing the outcome of the negotiations.
By Tsvetana Paraskova for Oilprice.com
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