Who in Latin America Will be the Biggest Victims of the Oil Price Collapse?
Who in Latin America Will be the Biggest Victims of the Oil Price Collapse?
From Argentina to Mexico, oil producing countries will suffer, but some may face disaster.
Collapsing oil prices amid the Covid-19 crisis are reshaping economies across the globe and Latin America will not be an exception. Prices for the Brent crude went from close to $70 per barrel, in January, to less than $20, in April. In the case of the U.S. West Texas Intermediate (WTI) marker, the downfall has been even more pronounced, reaching record lows.
Following a golden decade of very high prices, the low cycle that began in 2014 had already drastically impacted oil producers. The more profligate countries during the booming years were already in trouble. But the current...
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