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.
According to inner surveys performed by the Venezuelan Association of Metallurgical and Mining Industries (AIMM), where 160 metallurgic companies were taken into consideration, 90% of the companies members of this association are "distressed because of their existence or survival in the short term," stated Manuel Eseverri, president of this association.