ESPACIO PUBLICITARIO
CARACAS, Friday December 28, 2012 | Update
 
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HYDROCARBONS | The Ministry of Petroleum and Mining informed

Venezuelan oil basket ends at USD 103.46 in 2012

Domestic oil basket climbed USD 1.23 and finished at USD 99.25 this week

The Venezuelan oil basket was estimated at USD 50 in the budget for fiscal year 2012 (File photo)
EL UNIVERSAL
Friday December 28, 2012  11:53 AM
The Venezuelan oil basket rebounded USD 1.23 and finished at USD 99.25 this week, according to information disclosed by the Ministry of Petroleum and Mining.

"Oil prices ended upwards the last week of 2012. The release of positive results in relation with the US economy, despite uncertainty over US budgetary issues, contributed to such performance."

Upon the results, the Venezuelan oil basket's averages USD 103.46 per barrel this year, a USD 53.46 surplus in view of the benchmark (USD 50) budgeted for fiscal year 2012.
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A group of some 60 Venezuelan economists from across the country and from different generations and backgrounds, has met regularly in the past couple of years and now has brought forth a document explaining the reasons of the current emergency and outlining specific proposals on how to address the serious economic crisis the country has plunged into over the last three years.

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