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Venezuela shipping subsidized oil to Cuba as people at home are starving

One reason for the near-total collapse of Venezuela’s economy has been the dramatic decline in world oil prices. But at the same time, Venezuela’s government-run oil company has been crumbling from within, producing less oil every month because of incompetence and mismanagement. In fact, last month was the lowest level of oil production the nation has seen in 30 years:
Venezuelan oil production crashed to a new 30-year low of 1.5 million barrels a day in June, the Organisation of the Petroleum Exporting Countries (OPEC) said today…
According to the International Monetary Fund (IMF), Venezuela’s economic collapse is one of the worst in modern history. The economy has shrunk 45 percent since 2013 and the IMF expects it to contract 15 per cent in 2018 alone, with inflation reaching 13,800 per cent.
It turns out that stacking the nation’s leading industry with socialist cronies isn’t great for actual oil production. But even as the

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