Venezuela's PDVSA oil revenue tumbles amid lower prices, production

Venezuelan state oil company PDVSA's revenue from oil and fuel sales in 2016 dropped 34 percent from the previous year to $48.0 billion, the company said in its annual financial results published Friday night, hurt by lower production and oil prices.Economists tend to focus on PDVSA's PDVSA.UL revenue because of its multibillion-dollar contributions to anti-poverty campaigns, which make profit figures less relevant in assessing performance than for private firms.The OPEC nation, led by unpopular