Is Venezuela’s Downward Spiral OPEC’s Achilles Heel Or Saving Grace?
OPEC and US Shale have been duking it out in the oil markets for a few years now—ever since the days of $100 oil. OPEC, led by Saudi Arabia, took up a campaign to flood the market with oil to drown out the rising stars of the US Shale world. But that $100 oil came at a price, and the glut sunk prices to uber lows that hurt every oil producer in the world—some more than others. Venezuela was no exception to feeling hurt. Its state oil company, PDVSA—or shall we say the Hugo Chavez administration’s... Читать дальше...