HYDROCARBONS | From USD 97.27

Venezuelan oil tumbles 20 cents to USD 97.07

The Ministry of Petroleum and Mining reported that the average price in 2012 is USD 106.10 per barrel

The price of Venezuela's oil basket averages USD 106.10 so far this year (File photo)

EL UNIVERSAL

Friday July 27, 2012 01:42 PM

The Venezuelan oil basket was off 20 cents from USD 92.27 last week, ending at USD 97.07 the week of July 23-27, the Ministry of Petroleum and Mining reported.

Authorities noted that "average weekly prices showed a mixed performance in an environment of concern about the global economy, mainly of the euro zone, and its effects on the world demand, and also due to the dollar fluctuations."

With this, the average of the Venezuelan oil price in 2012 stood at USD 106.10 per barrel.

The OPEC basket rose to an average of USD 101.10 per barrel, whereas the Brent and the WTI averaged USD 104.63 and USD 89.37 per barrel, respectively.

With reporting by Ernesto J. Tovar

ADVERTISING SPACE

Dossier

The dialogue experience

José Vicente Rangel clearly said: "We are not conducting negotiations threatened with a gun in the head." He warned behind closed doors in the midst of the social upheaval occurred during the oil strike in 2002 and 2003. Dissenting Timoteo Zambrano answered back that no other option was available: "The thing is that otherwise, you do not negotiate."

Ranking