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Oil and gas industry

US officials: Venezuelan president’s hold on power weakening

WASHINGTON (AP) — U.S. intelligence analysts are increasingly convinced that Venezuelan President Nicolas Maduro is likely to be pushed aside by members of his own socialist movement before finishing his term. Senior American intelligence officials said Friday that as Venezuela’s economy spins out of control, Maduro’s grip on power is …

Economically struggling Venezuela hikes gas prices, devalues

CARACAS, Venezuela (AP) — President Nicolas Maduro announced a currency devaluation and gasoline price hike Wednesday in an attempt to shield Venezuela’s oil-dependent economy from collapse and fend off mounting calls for his ouster. Gas prices will jump more than sixtyfold — the first increase of any kind in about …

Venezuela president gets rare live TV criticism

CARACAS, Venezuela (AP) — In a stunning display of Venezuela’s tense new political order, President Nicolas Maduro suffered through a long scolding from the head of the country’s new opposition Congress Friday after presenting his state of the nation address. Congress leader Henry Ramos wagged his finger inches from the …

Oil keeps falling. And falling. How low can it go?

DALLAS (AP) — The price of oil keeps falling. And falling. And falling. It has to stop somewhere, right? Even after trending down for a year and a half, U.S. crude has fallen another 17 percent since the start of the year and is now probing depths not seen since …