Venezuelan oil basket slumps USD 97.10
The Venezuelan crude oil shed five cents
In the week of November 26-30, the Venezuelan oil price slid a bit (File photo)
Friday November 30, 2012 12:24 PM
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.
Following a wave of nationalizations carried out by the late President Hugo Chavez between 2007 and 2012, Venezuela has become the second most frequent respondent to investment treaty arbitration in the world (38 cases in total), after Argentina.