OilPrice.com | Venezuela Escapes Bankruptcy… But Oil Production Continues To Plunge OilPrice.com Either way, the South American OPEC nation's oil production is falling and will only continue on a downward trajectory. Venezuela's state-owned PDVSA avoided default at the eleventh hour, getting enough creditors onboard for a debt swap. The oil ... Venezuelan Oil Is Largely Staying in Ground or Going Up in Smoke |