The falling oil prices have had a huge impact on the already struggling Venezuela economy, as oil accounts for more than 95% of its exports and 50% of the Goverment’s fiscal revenue. Analysts say for every $1 drop in oil prices, Venezuela will lose $700 million in export revenue.


His Excellency Manuel Guzman, the Venezuelan ambassador to Malaysia, is on the Breakfast Grille. He talks about, among others, the future of the country amid falling crude prices, how Venezuela plans to use its new position on the UN Security Council, and potentially normalising relations with the US.

The falling oil prices have had a huge impact on the already struggling Venezuela economy, as oil accounts for more than 95% of its exports and 50% of the Goverment&rsquo;s fiscal revenue. Analysts say for every $1 drop in oil prices, Venezuela will lose $700 million in export revenue. His Excellency Manuel Guzman, the Venezuelan ambassador to Malaysia, is on the Breakfast Grille. He talks about, among others, the future of the country amid falling crude prices, how Venezuela plans to use its new position on the UN Security Council, and potentially normalising relations with the US.

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