Venezuela needs oil close to $200 a barrel to balance its budget

Venezuela is on the brink of economic collapse. According to The Washington Post, its currency has lost 93% of its black-market value in two years, and the nation is running out of beer and toilet paper. The country is dependent on its inefficient oil-producing infrastructure for money, and its budget has been wiped out by low oil prices. That's bad news for a centrally planned economy like Venezuela's. More…