Venezuela faces $150 billion in debt as President Maduro becomes increasingly isolated, with experts describing the oil-rich nation as ‘broke’ amid U.S. pressure.
President Maduro’s appeal to oil-rich nations Sunday laid bare just how isolated he has become, a Latin American oil expert says, before describing Venezuela as « broke » and drowning in $150 billion of debt.
The Venezuelan dictator’s plea came in a letter in which he appealed to OPEC for support, claiming that U.S. « direct aggression » was undermining Venezuela’s energy sector and threatening global oil stability.
In a letter to OPEC Secretary-General Haitham Al Ghais and published by Venezuelan Foreign Minister Yvan Gil, Maduro wrote, « I hope to count on your best efforts to help stop this aggression, which is growing stronger and seriously threatens the balance of the international energy market, both for producing and consuming countries. »
« OPEC is unlikely to get involved », Francisco J. Monaldi, Latin American Energy Policy Director, told Fox News Digital.
« Saudi Arabia is the key player, and they will not want to confront the Trump Administration.
