Oil price hike relieves several oil-rich Latin American states

The scenario took a 180-degree turn in record time.

RIO DE JANEIRO, BRAZIL - In April 2020, in full pandemic, oil was anathema and those Latin American and Caribbean countries that depend on its sales to grow and stabilize their public accounts - and they are many - suffered from the shock of low prices.

A year and a half later, reality is quite different: the crude oil barrel is above US$80, almost US$60 more than it was 18 months ago. Brazil, Colombia, Argentina and Guyana, and to a lesser extent Mexico, Ecuador and Venezuela, are being provided a powerful boost that few had in their sights.

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