Billionaire investor Jim Mellon said that Venezuela’s oil industry faces a long and difficult road to recovery, with meaningful production gains unlikely to materialize anytime soon. Venezuela’s Oil Recovery A Long-Term StorySpeaking on the Master Investor podcast on Wednesday, Mellon cautioned that any meaningful recovery in Venezuela’s oil sector remains a long-term story. “It will take at least 5 to 10 years before they can get back up to what they had,” he said, which is an output of 3 million barrels o ...