For almost seven months, the Venezuelan oil basket had not experienced a weekly increase of more than one dollar
TODAY VENEZUELA – Venezuelan oil average price this week regained USD 5.82 compared to the previous week, standing at USD 44.64. For almost seven months, the Venezuelan oil basket had not experienced a weekly increase of more than one dollar, the Venezuelan Ministry of Petroleum and Energy reported on Friday.
“Crude oil prices ended upward with regard to the previous week, mainly spurred by the news of shrinking budgets for exploration and production of oil companies in several countries,” the Venezuelan Ministry of Petroleum and Energy elaborated in its weekly report.
Likewise, the ministry noted that the recovery was due “to the news of the monetary stimulus plan in China and growing violence in Libya.”
The rising curve was also reflected in the oil basket price of the Organization of Petroleum Exporting Countries (OPEC), for USD 6 ending at USD 49.56.
Since you’re here …… we have a small favour to ask. More people are reading the Today Venezuela than ever but advertising revenues across the media are falling fast. And unlike many news organizations, we haven’t put up a paywall – we want to keep our site as open as we can. So you can see why we need to ask for your help. Updating reports on Today Venezuela takes a lot of time, money and hard work. But we do it because we believe our reports matter.
If everyone who reads Today Venezuela, who likes it, helps to support it by clicking our ads, our future would be much more secure. Do you part, click on an ad today.