Here’s what Venezuela’s deepening crisis means for oil prices

Venezuela and its worsening economic and political crisis may be an underappreciated wild card when it comes to the outlook for oil prices. The nation, which has the world’s largest oil reserves, is suffering an economic collapse that has sparked massive protests against the government of President Nicolás Maduro. “The country is in [its] worst shape in two decades,” said James Williams, energy economist at WTRG Economics. “More corruption, more violence, little food and almost no medicine. More…