Monday, April 27, 2026

Maduro's oil

China was buying most of Venezuela’s oil at a $20 discount. Venezuela was producing 400,000 barrels per day and now that is up to 1.1 million barrels. When oil was $60 Venezuela was earning $16 million per day but today, they are earning $66 million dollars per day at $60 per barrel. This extra $50 million represents 15% of the countries GDP. The oil is now going to India rather than China. It is a familiar story. Nicolas Maduro's family, including his wife Cilia Flores and their relatives, are accused of amassing vast, unexplained wealth and luxury lifestyles while Venezuela faces severe economic hardship. Reports suggest they control properties worth millions, with luxury homes, and are involved in high-level corruption and money laundering.

No comments:

Post a Comment