Oil In Venezuela

Oil in Venezuela

It has a long coastline of 2, km with Caribbean Sea and shares land border with Brazil, Columbia and Guyana. In past, Venezuela was a colony of Spain.

It became fully sovereign nation in Venezuela was mostly ruled by the dictators till Thereafter, country had seen democracy with various political crisis. Rich Oil Reserves: It is proven that Venezuela has the largest oil reserves in the world.

Global Stats

It has more oil reserves than Saudi Arabia. The difference is that oil drilling and extraction is far cheaper in Saudi Arabia as compared to Venezuela. The history of oil in Venezuela dates back to 19th century and major oil discovery took place in Venezuela had exported large quantity of oil during World War II. The country is considered as older exporter of oil in comparison to Middle-East.

The major oil exports from Middle-East Oil in Venezuela after Bolivar, the currency of Oil in Venezuela, has literally no value in international market. The official exchange rate in the year was 1USD for 6. In Julythe exchange rate of 1USD was 3.

The present hyperinflation in Venezuela is considered as worse Oil in Venezuela the hyperinflation of Zimbabwe in Hyper Inflation Venezuela from Open Source A survey reported that in the yearpopulation in Venezuela lost 8 kgs of weight on an average due to food shortage. The maximum refugees from Venezuela are hosted by Columbia. https://modernalternativemama.com/wp-content/custom/argumentative-essay/definition-of-big-bang.php unemployment and GDP contraction is worse than the historical crisis witnessed by nations during full scale war. The nation also witnessed worst political crisis and seen two Presidents ruling together.]

Happens: Oil in Venezuela

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Oil in Venezuela	2 days ago · Aug 3 (Reuters) - Venezuela's oil exports increased for the second consecutive month to , barrels per day (bpd) in July, as state-run PDVSA . 3 days ago · According to Reuters, a news agency, Venezuela's oil exports rose to , barrels/day in July. The outturn marks an increment of 16% compared with . 3 days ago · Jan. 30 (UPI) — Crude oil prices rose Wednesday amid expectations that Venezuelan oil shipments would see some disruption following U.S. sanctions, while traders awaited news later in the day regarding recent U.S. inventory levels and possible interest rate changes. West Texas Intermediate crude future prices rose 1 percent to $ per barrel as of [ ].
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