Why Did Venezuela, the World's Largest Oil Producer, Become Poor? | Result of Hyperinflation

Описание: Venezuela, South America's largest oil producer, used to be a place of envy 10 years ago as a country with good welfare.

However, the situation is completely different now.
Being selected as the world's most dangerous country, there is no public order.
So much so that soldiers would stand sentry throughout the streets.
As the price of oil plummeted and the prices skyrocketed, it resulted in hyperinflation. And there were even battles for food, to solve the riots and hunger brought on by the economic crisis.

Venezuela has become ever-so unstable. Why have they faced an economic crisis?