(Energy Analytics Institute, Pietro D. Pitts, 24.Nov. 2018) â Venezuela is suffering a complete meltdown across all sectors. The Venezuelan oil sector, which generates upwards to 95% of the countryâs foreign currency revenues, is in a precarious state to say the least as oil output continues its downward trend.
Interesting enough, the declining oil output trend continues to push the countryâs reserves-to-production ratio or (R/P ratio) to even higher levels.
