Venezuela: Oil Production Decreases Make Life Difficult 04/14/17 •lweb.es/f2771 •bit.ly/2pBsnd9
A turnaround for Venezuela’s oil industry, which provides about 95% of the country’s foreign currency earnings, would take at least two years under the best of circumstances. Any hope of reversing Venezuela’s decline as an oil supplier would mean that the country would have to settle debts with oil-service providers, fix fraying infrastructure and, potentially, get foreign companies to operate some fields. Venezuela has depended on loans from China and Russia in recent years for liquidity, but is finding it harder and harder to obtain financing, and debt service is becoming more burdensome.
Key points from the Lavrov-Tillerson meeting with Putin in Moscow: When Moscow and Washington cooperate, the world benefits, Both nations are focused on an uncompromising war on terror.