Venezuelan struggles seen in their oil exports

China’s share of Venezuelan crude has also ticked one percent higher in the last year, up to 9 percent. Venezuela’s relationship with China is one of necessity, however, than one of choice. For China has loaned Venezuela $45 billion over the last decade, with the debt to be repaid in oil. If this isn’t bad enough, the drop in oil prices means that Venezuela has to send twice as much to service its debt, compared to when prices were twice as high at $100/bbl. More…