Venezuela sits on more barrels of oil than Saudi Arabia. So why does it pump less than 1% of the global supply?
Venezuela's collapse in oil production stems from nationalizations that drove out technical expertise, sanctions that blocked investment and buyers, and having a heavy crude that's expensive to ...
Morning Overview on MSN
Venezuela’s oil mystery: Why the biggest reserves on Earth sit nearly untapped?
Venezuela sits atop approximately 303 billion barrels of proven crude oil reserves, roughly 17% of the global total, yet the country produced just 742,000 barrels per day in 2023, accounting for a ...
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