Confirmed: ClipperData a New York-based tracker is reporting that shipments of cut-rate oil under the PetroCaribe fund to Caribbean and Central American countries were slashed to around 20% by Venezuela through October when compared with the same timeline in 2013. Meanwhile, the IMF reported that preferential oil exports by Venezuela through the PetroCaribe deal, fell by 15^ from 2012. According to the Caribbean News Now, some economies could fall into recession, as several participants in the programme are preparing for further declines, despite Venezuela pledging to continue its agreement.
Posted on: Sun, 07 Dec 2014 23:00:29 +0000
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