By SIMON CONSTABLE
Venezuela’s economic woes just got even worse, but that's likely a blessing for the oil-rich nations of the Middle East.
Last week the Latin American country, which is also rich in oil resources, got slapped with US sanctions. It’s just the latest problem for the socialist government and will make it even harder for the country to pump oil.
Venezuela's oil problems are set to give a helping hand to the Middle East, especially those countries that are members of the Organization of the Petroleum Exporting Countries (OPEC), because a drop off from Venezuela’s output allows energy-rich Middle East countries to increase their production rates. Read more here.
No comments:
Post a Comment