Venezuela Holds World’s Largest Crude Oil Reserves but Faces Viability Challenges
Despite vast petroleum resources, the nation struggles with economic, technical, and geopolitical obstacles to fully capitalize on its crude oil reserves.
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Terms & Concepts
Crude Oil Reserves: Quantities of unrefined petroleum estimated to be recoverable under existing economic and operating conditions.
Viability: The practicality and feasibility of extracting and profiting from natural resources under current technical and economic constraints.