Members of Opec have discussed an emergency meeting if crude continues to slide, according to Nigeria's oil minister, the FT reports.» Read More
Venezuela confirmed it was in a recession, with the highest inflation in the Americas, while the socialist government blamed political foes for poor data.
CNBC's Brian Sullivan looks toward 2015 and shares predictions on gold, the Dow, IBM and more.
CARACAS, Dec 23- Venezuelan shoppers line up outside a Caracas liquor store to buy bottles of Buchanan's 12- year Scotch whisky at half the usual cost, a deal made possible by a state subsidy that gave cheap dollars to import them. The same subsidy, provided under the country's three-tiered exchange control system, helps a Caracas merchant do thriving business in...
Despite Venezuela's troubles, some U.S.-listed companies will want to keep earning money there. Look for those that own up to currency risk.
CNBC's Michelle Caruso-Cabrera reports Cuba's relationship with Venezuela and Russia are in focus because of the decline in oil prices. Cuba gets more than half of its oil from Venezuela every day.
As oil prices have fallen, currencies of developing countries that rely heavily on exports have been sliding.
"Meet the Press" moderator Chuck Todd, discusses new U.S. relations with Cuba and its impact to American oil companies, with CNBC's Rick Santelli.
In Fitch's ratings sytem, a "CCC" rating implies "default is a real possibility."
Shares of cruise company Carnival and airliner Copa Holdings were among the stocks boosted on normalized diplomatic Cuban relations.
Lower oil prices are good for some countries and bad for others. In a few, things could get ugly.
"Mad Money" host Jim Cramer is looking for some specific signals to spot the end of the slide.
What the heck is going on with oil? Jim Cramer can't take the slow death of oil anymore. He shares his guide to navigating this nasty commodity.
At the same event, Venezuela's foreign minister and top OPEC emissary Raphael Ramirez provided his country's answer to Naimi's question: OPEC must act, he told Reuters, because "that is our job. Ramirez said Venezuela would evaluate whether to call for an emergency OPEC meeting after seeing how oil prices perform in the first quarter. Last month, Gulf producers...
NEW YORK, Dec 9- Venezuelan sovereign bond prices plunged and the cost to insure the debt against a default surged on Tuesday in thin seasonal trading as five-year low oil prices cut the OPEC nation's cash flow, compounding already weak economic conditions. Analysts point out that Venezuela, despite all its debt, is not a heavily indebted nation.
CARACAS, Dec 10- Packing potatoes at his vegetable stand on a sun-baked street in Caracas's hillside Catia slum, Jesus Jimenez fondly recounts voting for late president Hugo Chavez. Like millions in Venezuela's poor "barrios," the chatty father of 14 worshipped the larger-than-life Chavez and benefited from his welfare programs, especially Cuban-staffed...
CNBC's Michelle Caruso-Cabrera reports on weakness in both the Russian and Venezuelan bond market as oil prices continue to pressure government bonds.
Days after OPEC decided not to give into Venezuela's plea to cut oil production, Caracas is on a cash-searching mission.
Oil prices are expected to stabilize, but OPEC will probably be forced to cut production, analysts say.
This is not a great time to be an oil producer, but some countries are hurting more than others.
NEW YORK, Dec 5- The dramatic drop in oil prices has Venezuela struggling to cover financing gaps. "If present policies are held unchanged, the market sees the height of default risk in two years time," said Michael Roche, emerging markets fixed-income analyst at the Seaport Group. Venezuela's Expected Default Frequency- Moody's market-based measure of credit...