Venezuela's oil basket down to USD 107.58

The Venezuelan oil basket sank USD 46 cents compared to last week and closed at USD 107.58 per barrel.

"The prices of main oil benchmarks ended down and were hit by renewed fears about debt problems in Europe and its effects on the global economy, as well as worse-than-expected macroeconomic data from China," the Ministry of Petroleum and Mining elaborated.

Meanwhile, the OPEC basket sagged 49 cents to USD 111.32 per barrel whereas the North Sea Brent tumbled USD 98 cents to USD 110.21 a barrel.

The Venezuelan oil basket averages USD 108.23 per barrel so far this year.

With reporting by Ernesto J. Tovar