Venezuela’s Oil Exports Are Headed Toward Zero

GlobalData recently projected that Venezuela’s crude oil production would drop to one million barrels per day by the end of the year. At this rate of decline, the country may have no more oil for export by early 2019.

Venezuela’s Woes Worsen

Things have gone from bad to worse in Venezuela, as ConocoPhillips moves to seize some of the Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award.