Venezuela's economic situation is so dire that experts are fearing the South American country might eventually default on its $120 billion foreign debt, even though President Nicolás Maduro insisted this week that his government would honor all its financial obligations.
Venezuela's government has requested OPEC hold an emergency meeting due to a collapse in oil prices that has left the country's economy in dire straits, sources at the company said Wednesday.
Oil prices continued to fall again on Monday as concerns of weak demand continued to worry investors. Since the end of last year, U.S. oil futures are down 30 percent.
