Wall Street Journal: How Venezuela Became China’s Money Pit

At one point when prices were higher and its oil industry less decrepit, Venezuela was sending China 600,000 barrels a day, according to Russ Dallen, the chief executive of Caracas Capital Markets, who has done extensive work untangling Venezuela’s opaque finances. He estimated that has brought the balance down to about $20 to $23 billion, plus another $3 billion to $4 billion owed to Russian oil company Rosneft.

https://www.wsj.com/articles/how-venezuela-became-chinas-money-pit-1531663200