HYDROCARBONS | Last week, it was at USD 95.64
Venezuelan oil extends its rally, climbs to USD 98.02
The Venezuelan oil basket pooled eight weeks with downward prices
Last week, it finished at USD 95.64 per barrel (File photo)
Friday December 21, 2012 12:04 PM
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.
According to forecasts made in August by National Oceanic and Atmospheric Administration (NOAA), repercussions of El Niño Southern Oscillation (ENSO) phenomenon would be enhanced at least until March 2016.