Who Wins and Who Loses With Lower Oil Prices?

The video discusses the 40% drop in crude oil prices and its impact on various sectors. Retailers like Costco benefit from lower gas prices, while airlines see reduced costs but also lower fares. Saudi Arabia and Russia face different challenges due to their oil-dependent economies. China benefits as a net importer, while Venezuela struggles with potential defaults. US oil-producing states face job losses and reduced exploration activities.

What is the situation of Venezuela in relation to oil prices and potential defaults?

Discuss the impact of declining oil prices on U.S. oil-producing states mentioned in the text.