reservasprobadas

The news came through the energy sector, but the shock is being felt in people’s wallets. A report by The Associated Press, drawing on the views of half a dozen experts, argues that of the 303 billion barrels Venezuela officially reports as proven reserves, only a fraction could be extracted under real-world conditions: between 60 billion and 120 billion. In other words, its vaunted “world’s largest” status would be called into question, along with much of the economic narrative underpinning fiscal decisions, international negotiations, and revenue expectations.