The Case For Washington To Remove Sanctions On Venezuela ...Middle East

By the 1990s, founding OPEC member Venezuela had become a true petroleum power pumping over two million barrels of crude oil per day. This saw the Latin American country ranked as OPEC’s third-largest oil producer, behind Saudi Arabia and Iran, and among the top-10 petroleum-producing nations globally. By 1998, the year that Hugo Chavez democratically won the presidency, Venezuela pumped a record average of 3.1 million barrels of crude oil per day. Since then, the now crisis-riven Latin American country’s petroleum output has rapidly…

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