Venezuelan oil basket slumps USD 97.10
The Venezuelan crude oil shed five cents
The Ministry of Petroleum and Mining has reported that the Venezuelan oil basket slipped back five cents (0.05%) from USD 97.15 last week.
The Ministry posted on its Tweeter account that during the week the prices of hydrocarbons were virtually steady, as the market focused its attention on the agreement on the financial aid to Greece and the talks at the US Congress to prevent the so-called fiscal precipice.
To date, the Venezuelan oil basket averages USD 103.95 per barrel.
Since the Venezuelan government imposed currency and price controls in 2003 property rights have been seriously affected, as the individual's freedom to acquire, use, enjoy and dispose of property has been severely restricted, according to experts.