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Venezuela’s Oil Collapse Makes it Expensive for Russia and Cuba to Prop up Maduro

Venezuela’s oil production has dropped by 40% since the end of 2018 and is now one-third of its 2012-2014 level. OPEC says Venezuela only produced 960,000 barrels per day in March. This is down from the 1.4 to 1.5 million barrel per day through most of 2018. Power outages and the continuing economic dumpster fire that is Venezuela is reducing oil production even more. If Maduro Does Not Have Oil Money Then It is Costly for Russia and Cuba to Keep Him in Power Nextbigfuture noted the cash crunch that faces Venezuela and its leader Maduro. Every 100,000 barrels of

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