Venezuela’s Maduro blames U.S. sanctions for oil price drop

Venezuela is facing a precipitous fall in the price of its oil, which plunged to its lowest level in 20 years on Friday. The country’s oil ministry says the cost of a barrel of oil has fallen to 9.90 U.S. dollars. While the government of Nicolas Maduro blames U.S. sanctions for the fall in oil prices, revenues have fallen through the floor amid the coronavirus pandemic.

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