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Commodities Briefing - Categorized | Oil, Price Watch more

How change in Venezuela could hit oil price

Posted on 19 February 2014

Venezuela is in an economic crisis. Inflation is running at more than 50%. There are shortages of basic goods including water and toilet paper. Last month, the central bank was forced to restrict the amount of dollars that it sells at the official exchange rate, a de facto devaluation.
The current crisis may lead to a regime change in Venezuela. That could push down the oil price. It could also open new opportunities for Western oil companies in Venezuela………………………………………….Full Article: Source


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