Bangkok Post – “Oil Reforms Spark New Hope for Venezuelan Retirees and Workers”

Workers and retirees of Venezuela’s state oil company, PDVSA, are looking towards potential oil-industry reforms following recent U.S. intervention. They are hopeful that these changes could enhance their purchasing power amid rising inflation and the devaluation of wages.

In and around Maracaibo, the confidence among these individuals is cautious. Many have faced significant challenges, with wages and pension payments declining in value over recent years. The hope is that U.S. measures could pave the way for improvements in the oil sector, which is crucial for the country’s economy.

Despite their optimism, the sentiment remains guarded. Workers emphasize the need for substantial reforms that address their economic struggles directly. As the oil industry remains a backbone of Venezuela’s economy, these developments are critical for the livelihoods of many in the region.