Caracas – Many consumers and businesses are happy about this news, but for the government in Caracas there may have been another bad news: On Monday evening, the oil price fell to its lowest level in more than five years. The North Sea Brent 
prices were down by 1.75 dollars to $ 57.51 per barrel (about 159 liters). US oil cost $ 53.10 with $ 1.63 a barrel less. Thus, the price of oil is not as low as in May 2009.
The price drop hits countries like Russia and Venezuela hard. Venezuelan President Nicolás Maduro now made the United States responsible for the development in the oil market. The left-wing politicians accused the United States price-cutting on the energy market. The US flooded the market with cheap oil to hurt the economy in Venezuela and Russia, Maduro said. “You are going to have a war to destroy Russia and Venezuela. In order to recolonize us to destroy our independence and revolution.”
The price of a barrel of Venezuelan oil stood at $ 48. In September the price of a barrel $ 95. The situation in Venezuela is tense. The South American country is heavily dependent on oil exports and threatens him according to analyst estimates in a few months of bankruptcy. In March Venezuela must pay back government bonds around a billion dollars. A total of 2015, more than $ 30 billion in payments become due.
Since the summer oil has cheapened by more than 40 percent because of a global oversupply. Background is in addition to a weakening demand and the booming production from shale rock in the United States thanks to the controversial fracking technique. Saudi Arabia made recently with the announcement of a stir, the country would not reduce its flow even with a further decline in oil prices. Oil Minister Ali Al-Naimi justified this with the concern for the market power of his country. He also denied accusations that there are in the oil market a conspiracy against certain countries.
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