Venezuelan oil extends its rally, climbs to USD 98.02
The Venezuelan oil basket pooled eight weeks with downward prices
Venezuelan Ministry of Petroleum and Mining reported that Venezuelan oil averaged USD 98.02 per barrel the week of December 17-21, 2012.
The price recovered for the first time after eight weeks in a row down the hill. Last week, it finished at USD 95.64 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.