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Venezuela has had an on going crisis that is pretty shity. It seems it cannot produce / inport enough.... toilet paper.
Correct me if I am wrong, but Venezuela is sitting on one of the world's largest oil reserves. The problem with this is the largest customer of their oil - The United States - is now one of the world's top producers of oil and needs to import oil a lot less than in the past. The economy in Venezuela is based on selling oil, and that is no longer working.
These countries who have economies that depend on oil sales are going to have some serious issues. Importing oil will no longer be an option. At a certain point in time it will be much cheaper for countries to produce their own oil and oil imports will shrink.
Saudi Arabia is fucked. Russia too.
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