Keep an eye on Venezuela's slow-motion collapse

But this time last year, oil prices started dropping. The country's economy is collapsing, and there is not enough foreign currency to buy food and medicine, according to an analysis published by Bloomberg News on Wednesday. Venezuela exports 2.4 million barrels of crude oil a day, mostly to the United States and Latin American countries. While it may rank only 12th in production, the U.S. Energy Information Administration reports the nation as the largest proven oil reserves in the world. More…