ASSESSMENTS

Venezuela: The Danger of Lower Oil Prices

Oct 15, 2008 | 21:14 GMT

ORLANDO SIERRA/AFP/Getty Images

Summary

Venezuela is betting that oil will be at least $60 per barrel as it formulates its 2009 budget. Nearly doubling the previous year's estimate, the estimate puts Venezuela's government budget dangerously close to current price levels, leaving little room for error.

Venezuela is gambling on oil price estimates -- and the consequences of losing are high....

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