Politics trump business in Venezuela oil outlook
2016; Emerald Publishing Limited; Linguagem: Inglês
10.1108/oxan-db212006
ISSN2633-304X
Tópico(s)Economic Theory and Policy
ResumoSignificance The impact of low oil prices, which have prompted a fall of more than 60% in the government's income, has been exacerbated by falling production. This raises questions about the government's ability to maintain its regional influence via organisations such as PetroCaribe and manage the risk of a default by PDVSA. Impacts Camimpeg may bolster military support for the government, but not oil output. Although falling oil prices have lowered the cost of PetroCaribe, it could yet prove unsustainable in current conditions. Chinese lending appears set to shrink amid concerns over oil output and default risks.
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