Venezuela’s Rig Count Is at a 14-Year Low

The number of active oil rigs in Venezuela is heading for a second annual decline. Baker Hughes Inc. data published Tuesday showed. That means lower output and a drop in the much-needed dollars the country requires to service its debt. Once Latin America’s largest oil producer. Venezuela lost the top spot to Brazil amid triple-digit inflation. unpaid debts to oil-service companies and lack of investment.

About core

Check Also

Taiwan to Pledge more U.S. Oil and Gas Imports to Avoid Tariff

Taiwan is pledging to buy more U.S. oil and gas, which is a focus of …

Leave a Reply

Your email address will not be published. Required fields are marked *