The Method in Venezuela’s Oil Strategy Madness
A 2014 Petroleum Economist report on Venezuela’s Orinoco Belt concluded where it might have begun: “A crucial question that the (Venezuelan) government has skirted is how its Orinoco Belt plans would fit within OPEC’s production quotas. Venezuela has been one of the cartel’s most hawkish members, urging tighter production quotas to keep prices above $100/b. An aggressive production expansion as…