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Why Venezuela is in the midst of an oil industry "death spiral"

Anu Anand Jan 19, 2018
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New figures show Venezuela’s oil output plummeted again last year, continuing a years-long streak of falling production. What will it mean for the economy as inflation soars and quality of life for residents declines? Rice University’s Francisco Monaldi explains why he calls the trend a “death spiral” for the country’s oil industry.

Click the above audio player to hear the full interview.