By Allison Fedirka
Editor’s Note: This is the second piece of a three-part series examining the impact of declining oil prices in Latin America. Click here to read part one.
Summary The challenges in the oil industry in Brazil and Argentina stem from long-standing business and policy practices in the oil sector, not from declining oil prices. In both countries, the underlying causes of these problems predate the fall in prices in late 2014. Oil companies would have faced financial challenges and unrest would have occurred regardless of fluctuations in international oil prices.
Last week, we discussed why Mexico has been able to deal well with plummeting oil prices. We also explained that the country’s ability to meet its financial obligations while avoiding major public unrest makes it an outlier among major oil-producing countries in Latin America. This week, we will look at two countries where financial challenges facing oil companies, as well as social unrest connected
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