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
"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.
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.