Venezuelan oil falls below USD 100 a barrel

The price of Venezuelan oil fell by USD 2.48 from USD 101.63 in May 21-25 (File photo)

EL UNIVERSAL

Friday June 01, 2012 11:59 AM

The price of the Venezuelan crude oil basket dropped USD 2.48 and ended the week at USD 99.15 per barrel, said on Friday the Ministry of Petroleum and Mining.

The price of Venezuelan oil fell by USD 2.48 from USD 101.63 in May 21-25, said the Ministry of Petroleum and Mining.

During the week that ended on June 1, the prices of major crude oil benchmarks fell, affected by the debt crisis in Europe, disappointing economic data about the US and China economies and strengthening of the US dollar against other currencies.

The annual average price of Venezuelan crude oil is USD 111 per barrel.

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