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jose chalhoub

Crucial year for the largest oil reserve in the world.. Venezuela

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This year will be probably the most difficult for the largest oil reserve of the world Venezuela, as Maduro will assume his 2nd term in January 10th and today a new directive and period of the opposition controlled National Assembly installing in the middle of many geopolitical and political dynamics going on and right after the Lima Group announced that it wont recognise Maduro's new mandate, only without Mexico under leftist Lopez Obrador being included for obvious reasons, while Brazil's Bolsonaro repeatedly announcing it was going be part of the efforts in the region to topple Maduro with the help of the Trump administration.

All this while the destruction of the oil industry has no end in sight, with overall production of PDVSA hardly over a million barrels per day (this with foreign partners such as Russia China, the largest ones) but by itself PDVSA is producing around 400.000 barrels per day, coupled with an unstoppable inflation level, and so on, while Maduro grows ever more isolated in the region including the Caribbean front, now with the recent developments in Guyana coasts. So definitely will be one of the most dramatic year for Venezuela without any doubts. 

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