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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About This Source - CGTN

This story is an English language news item from CGTN. CGTN is a Chinese state-funded broadcaster.

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In This Story: Venezuela

Venezuela is a country on the northern coast of South America with diverse natural attractions. Along its Caribbean coast are tropical resort islands including Isla de Margarita and the Los Roques archipelago. To the northwest are the Andes Mountains and the colonial town of Mérida, a base for visiting Sierra Nevada National Park. Caracas, the capital, is to the north.

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