(Bloomberg) -- The number of active oil rigs in Venezuela is heading for a second annual decline, Baker Hughes Inc. data published Tuesday showed. That means lower output and a drop in the much-needed dollars the country requires to service its debt. Once Latin America's largest oil producer, Venezuela lost the top spot to Brazil amid triple-digit inflation, unpaid debts to oil-service companies and lack of investment.
To contact the reporter on this story: Lucia Kassai in Houston at lkassai@bloomberg.net.
To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Debarati Roy, Nancy Moran
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