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A comment on Oil plummets 30% as OPEC deal failure sparks price war fears. Parent comment

Re:Oil plummets 30% as OPEC deal failure sparks price war fears by nradov on Sunday March 08, 2020 @08:24PM (#22521771)
Venezuelan oil exports have collapsed due to a mix of foreign sanctions, corruption, and government incompetence.
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Re:Oil plummets 30% as OPEC deal failure sparks price war fears by loeg on Sunday March 08, 2020 @09:02PM (#22521978)
And low quality crude means they can't afford to pull it out of the ground when prices are low.
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Re:Oil plummets 30% as OPEC deal failure sparks price war fears by HenryBemis on Sunday March 08, 2020 @09:58PM (#22522256)
Yes, Venezuela managed to put themselves into a corner. Russia has been saving billions in foreign currency for "a rainy day". Venezuela didn't have the discipline of Russia and of course doesn't have the military might either.
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