Venezuela ties its currency to a state-run cryptocoin the Petro; Hardly anyone knows what to expect out of this

Venezuela has just taken drastic and unprecedented steps to stabilize its currency as it grapples with hyperinflation and other economic issues. The country’s currency has not only been massively ... Read More

Here’s what Venezuela’s deepening crisis means for oil prices

Venezuela and its worsening economic and political crisis may be an underappreciated wild card when it comes to the outlook for oil prices. The nation, which has the world’s ... Read More

Venezuela running out of cash

The Central Bank of Venezuela says the country is down to just $10.5 billion in foreign reserves. At the same time, Caracas has to meet debt obligations of $7.2 ... Read More
Venezuelan bitcoin miners

Venezuelan authorities arrest 4 bitcoin miners

Venezuelan authorities have arrested four people allegedly involved with a cryptocurrency-mining operation based in a small city about an hour and a half’s drive from Caracas, according to local ... Read More

Venezuelans are turning to bitcoin as the bolívar crumbles

Venezuela’s currency has lost so much of its value that people have given up on counting the notes—they just weigh piles of cash. So far this year, the bolívar has ... Read More

Bitcoin Volume in Venezuela Surging Amid Hyperinflation

So far, three Bitcoin exchanges have established themselves in Venezuela. SurBitcoin is by far the biggest, whereas Yabit and Cryptobuyer are relatively new on the scene. Bitcoin remains one ... Read More
Worker grabs a nozzle at a petrol station in Tehran

Oil prices rise as turmoil in Nigeria adds to global supply disruptions

Oil prices rose in early trading on Friday as turmoil in Nigeria, shale bankruptcies in the United States and crisis in Venezuela all contributed to tightening supplies. Despite this, ... Read More
Brent Crude Oil

Brent Slightly Up Over Unexpected OPEC-Russia Meet

Oil has risen 2 percent since this morning on speculation ahead of a meeting tomorrow in Doha among ministers from Saudi Arabia, Russia, Qatar and Venezuela. After-hours Brent crude ... Read More

No Agreement on OPEC Meeting After Venezuela Meets With Saudi Arabia

The prospects for an emergency OPEC meeting to initiate coordinated production cuts took a hit this weekend. Venezuela’s oil minister Eulogio del Pino flew to Riyadh to meet with ... Read More
factory petro-hemicals

Oil Trades Near $31 After Saudi-Venezuela Talks as Bets Increase

Al-Naimi speaks with counterpart about other producer meetings Vitol CEO says crude to stay between $40 and $60 for 10 years Oil traded near $31 a barrel after Saudi ... Read More
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