Consider the following statements: Statement-I: Recently, Venezuela has achieved a rapid recovery from its economic crisis and succeeded in preventing its people from fleeing/emigrating to other countries. Statement-II: Venezuela has the world's largest oil reserves. Which one of the following is correct in respect of the above statements?

Answer: D. Statement-I is incorrect; Statement-II is correct. Statement-I: 'Venezuela has achieved rapid economic recovery and prevented emigration' is WRONG. Venezuela has NOT achieved rapid recovery. The economy remains in deep crisis: hyperinflation, currency collapse, shortages of food and medicine. Approximately 7.7 million Venezuelans have fled the country since 2014 (UNHCR), making it the largest displacement crisis in Latin American history. Migration to the US-Mexico border surged in 2022-23. Statement-II: 'Venezuela has the world's largest oil reserves' is CORRECT. Per OPEC and EIA data, Venezuela has proven oil reserves of approximately 303 billion barrels, the largest in the world (ahead of Saudi Arabia's ~267 billion). Most reserves are heavy/extra-heavy crude in the Orinoco Belt. Source: UNHCR Venezuela Situation reports / OPEC Annual Statistical Bulletin / EIA International Energy Statistics.