Oil-dependent Venezuela may slip along with price of oil

10/28/2008 | Bloomberg1

Venezuela's economy is in dire danger as the price of oil, which funds half of the government's spending, continues to slide. Economists estimated that the minimum oil price necessary for President Hugo Chavez to fund his economic policies is between $65 and $120 a barrel. Oil fell to $63.22 on Monday, the lowest in 17 months.

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