Venezuela empowers oil minister Quevedo to reform energy sector

CARACAS, April 14 (Reuters) - President Nicolas Maduro has decreed extra powers to his oil czar Manuel Quevedo to try and halt sliding crude output in crisis-hit Venezuela, which has sunk to its lowest level since the 1950s. Struggling with a deep economic recession, failed socialist policies, debt default, and U.S. financial sanctions, Venezuela's crude production slipped to 1.586 million barrels per day in February, according to OPEC.