Venezuelan Crude Drops To US$35

A US$2.60 drop from the previous week

The Venezuelan crude oil this week (July 22-29) ended at US$35 per barrel, a US$ 2.60 drop from the previous week (July 18-22), when it hit US$37.60 per barrel.

The information was disclosed on Friday by the website of the Petroleum and Mining Ministry.

According to the official website, such fall is due to pressure exerted on the market by “concerns over high global (oil) supplies and expectations around a slowdown in the world economic growth.”