Early this year, the World Bank named Iraq, Libya, Venezuela, Equatorial Guinea, Nigeria, Iran, Guyana, Algeria, Azerbaijan, and Kazakhstan as the most vulnerable oil-producing nations due to their high exposure to the oil and gas sector and relative lack of diversification. Latin American economies are, however, not much better off due to their high reliance on oil and lack of a clear roadmap in the global energy transition.
Venezuela, Ecuador, and Colombia are particularly dependent on oil exports and revenues. Bolivia and Trinidad depend heavily…$3 Trillion In Latin American Oil Assets Are At Serious Risk
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