Venezuela’s Rig Count Is at a 14-Year Low

The number of active oil rigs in Venezuela is heading for a second annual decline, Baker Hughes Inc. data published Tuesday showed. That means lower output and a drop in the much-needed dollars the country requires to service its debt. Once Latin America’s largest oil producer, Venezuela lost the top spot to Brazil amid triple-digit inflation, unpaid debts to oil-service companies and lack of investment.

    Before it's here, it's on the Bloomberg Terminal.
    LEARN MORE