Venezuelans face acute shortage of basic necessities amid oil rout

Caracas

WITH long, everyday waits in line to buy milk or toilet paper, Venezuela's economic crisis is proving ever more painful, as President Nicolas Maduro's socialist government struggles with the inflation-wracked, collapsing economy.

"This country never was like this. Before, we had the freedom to buy, invest, to grow," said a man who only gave his first name Hernando, perched on a lawn chair to soften the hours-long wait expected outside a Caracas market.

Venezuela sits atop the world's largest oil reserves, and is an Opec member state. But Caracas's long dependence on oil to fund its budget - and long delay in diversification - …