Research Library

The outlook for the Venezuelan oil industry and the broader economic and political challenges facing the country are intrinsically linked. This report summarizes possible political and economic scenarios, as well as potential next steps for the country, discussed during a workshop convened by Columbia University's Center on Global Energy Policy.

The economic and humanitarian crisis in Venezuela took a turn for the worse in the second half of 2017. Declines in oil production and exports are accelerating. The government has fallen behind in debt payments, past the grace period in several cases. This report summarizes some key takeaways from an expert workshop convened by Columbia University’s Center on Global Energy Policy to appraise these alarming developments.