Venezuela and its worsening economic and political crisis
may be an underappreciated wild card when it comes to the outlook for oil
prices. The nation, which has the world’s largest oil reserves, is suffering an
economic collapse that has sparked massive protests against the government of
President Nicolás Maduro. “The country is in [its] worst shape in two decades,”
said James Williams, energy economist at WTRG Economics. “More corruption, more
violence, little food and almost no medicine. More…
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