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CARACAS, Friday November 09, 2012 | Update
 
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HYDROCARBONS

Oil basket shrinks USD 1.18 in a week

Venezuelan oil basket closed at USD 96.38 per barrel this week

Ministry of Petroleum and Mining reported drop in Venezuelan oil basket price (File photo)
EL UNIVERSAL
Friday November 09, 2012  01:24 PM

Venezuelan oil basket closed at USD 96.38 per barrel this week, slipping USD 1.18, Venezuela's Ministry of Petroleum and Mining reported.

"This week, crude oil prices were impacted by persistent uncertainty over the global economy and its effects on oil demand, higher commercial inventories in the United States, and a stronger US dollar versus the euro," the ministry informed.

The yearly oil basket averages USD 104.45 per barrel.

Translated by Jhean Cabrera
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