5 Countries Crushed By Oil Price Collapse - CNN

Countries that produce the world's crude are getting crushed by low prices.
Huge budget surpluses are turning into deficits, and generous social programs are being replaced with austerity and cuts.
Oil has collapsed below $37 a barrel, compared to over $100 in mid-2014. The global oil glut, OPEC's determination to pump like there is no tomorrow, and slowing demand from China and other countries are pushing oil prices to new lows.

Here are the five countries hit the worst.

1 Venezuela

Venezuela has the world's largest oil reserves. Its government has for years used the money it makes producing oil to pay for pensions, health care, social benefits and even to subsidize housing and grocery stores.
But now, the economy is on the brink of collapse. Inflation soared over 150% in 2015 and is expected to rise over 200% next year. The government is unable to pay its bills, and food and basic supplies are in short supply.
The economic downturn has led to political turmoil. Earlier this month, the country's opposition won a majority in an election for the first time in 17 years.