News Summary

• Venezuela’s oil production is rising, yet its currency is depreciating, inflation is accelerating, and foreign exchange remains scarce.
• The disconnect reflects a political economy built on private dealmaking and a mutually beneficial alliance between ruling elites and US President Donald Trump's acolytes.
• “Oil is starting to flow, and large amounts of money, unseen for many years, will soon be greatly helping the people of Venezuela,” Trump said after the capture of President Nicolás Maduro.