Economy 52,863 Posted June 7, 2018 Share Posted June 7, 2018 https://oilprice.com/Energy/Crude-Oil/Venezuelas-Oil-Meltdown-Defies-Belief.html Venezuelas Oil production continues to plumet. Production is now at only 1.5 Million barrels a day and the fall is still accelerating The reason is that the State Owned Oil Company, refineries and ports were so mismanaged and funding for basic repairs and maintenance so low that breakdowns and bottle necks are simply taking production offline. Workers are also quitting due to really low pay OPEC is rumoured to possibly add production to compensate but at this time nothing is confirmed. Ironically Venezuela has the worlds largest Proven Oil Reserves at 301 Billion Barrels. Link to post Share on other sites More sharing options...
Pierre 10,480 Posted June 7, 2018 Share Posted June 7, 2018 That's what happens when you steal and gift the money to other nations instead of repairing the structures and buildings, and when hiperflation is so high the salary is a piece of crap. ❝Is not blue, not turquoise, not lapis. It's actually cerulean❞. Link to post Share on other sites More sharing options...
Fernster7 7,976 Posted June 7, 2018 Share Posted June 7, 2018 My country is so tragic, omg, this is too sad. Monsters never die. Link to post Share on other sites More sharing options...
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