Oil basket shrinks USD 1.18 in a week
Venezuelan oil basket closed at USD 96.38 per barrel this week
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
According to inner surveys performed by the Venezuelan Association of Metallurgical and Mining Industries (AIMM), where 160 metallurgic companies were taken into consideration, 90% of the companies members of this association are "distressed because of their existence or survival in the short term," stated Manuel Eseverri, president of this association.