The power supply crisis in Venezuela is highly likely to continue in the coming months, affecting everyday life and paralyzing oil production in the country sitting on top of the world’s largest oil reserves, IHS Markit said in a commentary on Thursday. The major power outage in March this year disrupted severely the already crumbling Venezuelan oil production and threatened its oil exports. The massive outages in March may have made the headlines, but Venezuela continues to suffer to this day from frequent significant disruptions to the power supply for the capital Caracas, major cities, and oil processing sites. Outages in Caracas continue to occur at least several times a week, while other parts of the country, including the oil-rich state Zulia, experience blackouts practically every day, said Etienne Gabel, Senior Director, Gas, Power and Energy Futures, at IHS Markit, and Carlos Cardenas, IHS Markit’s Director, Latin America Country […]