HYDROCARBONS | Up USD 0.13 in a week

Venezuelan oil basket rises to USD 100.71 per barrel

Tensions in the Middle East are accountable for the slight recovery, the Venezuelan Ministry of Petroleum and Mining said

The Venezuelan oil basket yearly average stands at USD 105.08 per barrel (File photo)

EL UNIVERSAL

Friday October 05, 2012 03:19 PM

Venezuelan Ministry of Petroleum and Mining has informed that the Venezuelan oil basket had a slight recovery (USD 0.13) and ended at USD 100.7 per barrel amid geopolitical tensions in the Middle East. However, profits were limited due to some concerns over the development of the global economy.

The Venezuelan oil basket yearly average stands at USD 105.08 per barrel, which means it is USD 55 over the country's annual budget baseline (USD 50).

Translated by Jhean Cabrera

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