why venezuela can t pump its oil despite world s largest reserves

How much money does it take to rebuild venezuelas oil industry? Why doesn’ t it earn more from exports? · venezuela ’ s vast oil reserves will not reshape markets. · venezuela holds the most oil reserves in the world but suffers from economic crisis and political setbacks due to mismanagement, subsidies, and over-dependence on oil exports. Without technology, capital, expertise, and a sufficiently high oil price, the oil stays in the. Why did exxon mobil & conocophillips leave venezuela? Venezuela holds the world s largest proven oil reserves —303 billion barrels, about 17% of the global total and more than saudi arabia s 267 billion. · venezuela sits atop the world ’ s largest oil reserves , but years of neglect, political risk and decaying infrastructure make recovery slow and costly. Yet venezuela produces fewer than 1 million. · venezuela s collapse in oil production stems from nationalizations that drove out technical expertise, sanctions that blocked investment and buyers, and having a heavy crude thats expensive. · venezuela ’ s vast oil reserves remain real, but reserves alone do not produce prosperity. Heavy crude, refinery lock-in, capital flight, and falling diesel demand explain why. Click on a trending topic to learn more about it. Why is venezuelan oil so expensive? · venezuela has the world ’ s most oil : Ai-generated content sometimes contains inaccurate or incomplete information. Why did venezuela collapse in oil production? Venezuela holds the world ’s largest proven oil reserves , more than five times more than the united. Yahoo is using openai to generate summaries for this content.