Are you sure about that? Correlation not being causation and everything......
Seems to me it had a lot more to do with Venezuala putting all of their eggs in one basket. Maduro and others in government mismanaged the money that was brought in by their booming oil industry, thinking that cow would support them indefinitely. Then, when oil prices dropped, it caused their currency's value to crash. Chavez should have looked after his country's long term interests and invested some of those oil earnings in other exports, like coffee and other agriculture. The exact same thing could have happened if Venezuala was a capitalist society.