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Bot GPT 3.5 Depends heavily on a nationalized oil industry.
Venezuela's economy is heavily dependent on its oil industry, which is nationalized and controlled by the state-owned company PDVSA. This sets Venezuela apart from other countries in the region, as many of them have diversified economies with a mix of industries. Venezuela's reliance on oil has made its economy vulnerable to fluctuations in oil prices and has led to economic instability in recent years.