Venezuela Archives

In its first meeting of 2026, OPEC+ keeps oil output steady amid geopolitical turmoil

IFM CorrespondentJanuary 8, 2026January 8, 2026

by IFM CorrespondentJanuary 8, 2026January 8, 2026

The eight OPEC+ members, Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman, raised oil output targets by around 2.9 million barrels per day in 2025...

Commodity Featured

Gold smashes 4,500 per ounce level amid United States-Venezuela tensions

WebAdminDecember 26, 2025

by WebAdminDecember 26, 2025

While spot gold rose 0.7% to USD 4,476.15 per ounce, US gold futures for February delivery rose 0.9% to USD 4,509.80...

Featured Oil & Gas

Will Venezuela become oil biggie? As US lifts sanctions, experts weigh in

IFM CorrespondentOctober 31, 2023

by IFM CorrespondentOctober 31, 2023

The Joe Biden administration removed the majority of the six-month limitations on Venezuela's ability to produce, sell, and export oil to specific markets...

Banking Featured

Citigroup to exit Venezuela after more than 100 years

WebAdminJuly 15, 2021

by WebAdminJuly 15, 2021

The lender will sell its operations to Banco Nacional de Crédito (BNC)...

In the News

Iran prepares to launch cryptocurrency ‘to overcome US-led financial blockade’

International Finance DeskAugust 30, 2018

by International Finance DeskAugust 30, 2018

Its collective effort toward building a state currency is led by the Post Bank of Iran in association with the country's Central Bank...

Oil & Gas

OPEC members to decide on oil prices this week

International Finance DeskJune 19, 2018

by International Finance DeskJune 19, 2018

OPEC is scheduled to meet this week in Vienna to discuss raising production rates, ahead of a meeting with Russia and non-OPEC members ...

Fintech

Donald Trump bans the US from transacting in Venezuelan cryptocurrency Petro

International Finance DeskMarch 20, 2018February 27, 2020

by International Finance DeskMarch 20, 2018February 27, 2020

With the ban being implemented, Venezuela has plunged into economic adversity again...

Economy

Inflation in Venezuela is expected to touch 700%

International Finance DeskSeptember 23, 2016

by International Finance DeskSeptember 23, 2016

Many citizens can no longer afford to feed themselves leading to protests Marcus Turner Jones September 23, 2016: Venezuela remains in crisis, facing the largest demonstrations that the country has ever seen. The scale of the crisis has caused President Nicolas Maduro to declare a ‘constitutional state of emergency’, with rival pro and anti-government activists...

Economy

Russia seeks a bite of Latin America

International Finance DeskApril 2, 2015

by International Finance DeskApril 2, 2015

Renewing and strengthening ties in a bid to alleviate food shortages back home Kamilia Lahrichi April 2, 2015: Russia’s Foreign Minister Sergey Lavrov courted Cuba, Nicaragua, Colombia and Guatemala during a four-day visit to South America in March 2015 to boost bilateral trade, as food shortage is hitting his country hard. Last year, Moscow banned...

Fintech

Tough time ahead for oil companies

International Finance DeskJanuary 27, 2015

by International Finance DeskJanuary 27, 2015

While big players are streamlining operations, smaller ones look to get acquired Suparna Goswami Bhattacharya Analysts expect oil price to come down to $43 a barrel in second quarter of 2015 Oil companies look for ways to cut costs Big players go in for layoffs Oil price: No looking up for now January 27, 2015:...