Yahoo had the following to say about migration out of Venezuela:
"Without any significant change that could reverse the economic, political and social crisis in Venezuela, the total number of migrants and refugees could reach between 5.39 and 5.75 million by the end of 2019," said the report commissioned by OAS Secretary General Luis Almagro.
This seems to increase the range that the Miami Herald wrote in December when they stated that the U.N. Refugee Agency had an estimate of 5.4 million by the end of 2019.
The Yahoo article seems to have an estimate of anywhere between 2.7 million to 3.4 million have already fled Venezuela from between 2015 and 2018. Not sure which numbers are from where, but one comes from the Organization of American States while the other comes from the United Nations.
Conoco Phillips
S&P Global has news about the World Banks decision between Venezuela and ConocoPhillips:
An international tribunal on Friday ordered Venezuela to pay ConocoPhillips roughly $8.7 billion in compensation for the seizure of company assets in 2007. Among other payments, the World Bank Group's International Center for Settlement of Investment Disputes ordered Friday that Venezuela must pay nearly $4.5 billion to compensate for the seizure of ConocoPhillips' Hamaca project and nearly $3.4 billion to compensate for the seizure of its Petrozuata project. In addition to those two heavy oil projects in the Orinoco Belt, the tribunal ordered Venezuela to pay more than $562 million in compensation for the seizure of ConocoPhillips' Corocoro projects in the southwestern Gulf of Paria.
Reuters (March 8) speculates that Venezuela might pay ConocoPhillips via Citgo's assets.
Back in August, per Reuters, ConocoPhillips won a $2 billion arbitration agreement. The March 8th Reuters article states that at least $400 million of this was paid. In total, Venezuela owes ConocoPhillips $10.7 million.
Oil Production
Per S&P Global, Venezuela produced 1.2 million b/d of oil in January. They're forecasting by the end of the year this will drop to 825,000 and that come 2020 it will drop to 750,000.
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