Oil’s decline is proving to be the worst since the collapse of the financial system in 2008 and threatening to have the same global impact of falling prices three decades ago that led to the Mexican debt crisis and the end of the Soviet Union. Russia, the world’s largest producer, can no longer rely on […]
At least 17 inmates dead after poisoning in Venezuela
Caracas – At least 17 Venezuelan inmates who had been on hunger strike over prison conditions, died on Wednesday of prescription drug poisoning, police sources told AFP. The prisoners at David Viloria Correction Centre, known as Uribana prison, in Venezuela’s Lara state, had been protesting since Tuesday over what they said was inhumane treatment and […]
The “market will stabilize itself,” says Saudi oil minister at OPEC meeting
Saudi Arabia’s oil minister said crude prices will stabilize while the United Arab Emirates said OPEC will do what it takes to balance the market. Angola predicted the 12-nation group will reach a consensus when it meets tomorrow. The “market will stabilize itself,” Ali Al-Naimi, the Saudi minister, told reporters in Vienna today. The world’s […]
Opec under pressure to cut output as price of crude continues to drop
Oil fell for a second straight day on Tuesday as traders looked beyond price defense attempts by Russia and Venezuela and toward Saudi Arabia and OPEC for fresh leads on whether the group will cut output when it meets later this month. Saudi Arabia, the most powerful member of the Organization of the Petroleum Exporting […]
Chavez is back in Venezuela
Venezuelan President Hugo Chavez made a surprise return from Cuba on Monday more than two months after surgery for cancer that threatens to end his 14-year rule of the South American OPEC member. The 58-year-old socialist leader underwent a six-hour operation in Cuba on December 11.
Devaluation: Venezuelans queue before price raise
Venezuelans lined up to purchase airline tickets and TVs this weekend in a bid to protect themselves from price increases after ailing President Hugo Chavez devalued the bolivar for a fifth time in nine years.
Ailing Chavez can’t attend presidential swearing-in
Venezuela President Hugo Chavez won’t be able to attend his scheduled swearing-in this week, the country’s government announced Tuesday, confirming suspicions that the leader’s illness will keep him in a Cuban hospital past the key date.
Chavez’s health: Venezuelan opposition demands details
As rumors about Venezuelan President Hugo Chavez’s health swirl, supporters and opponents of the ailing leader are trading barbs over who is behind them. “Secrecy is the source of the rumors that increase uncertainty
Chavez suffers ‘new complications’, says VP
Hugo Chavez has suffered “new complications” following his cancer surgery in Cuba, his vice president said Sunday, describing the Venezuelan leader’s condition as delicate. Vice President Nicolas Maduro spoke with a solemn expression in a televised address from Havana, saying he had spoken with Chavez
A former bus driver could replace Venezuela’s Chavez
He began his career as a bus driver in Caracas, then rose through the ranks to become a member of Venezuelan President Hugo Chavez’s inner circle. Now, if Chavez’s health worsens, Vice President Nicolas Maduro could be the one to take the reins.