Venezuelan oil basket opens 2013 above USD 100
The Ministry of Petroleum and Mining reported that in the week of December 31, 2012 to January 4, 2013, the Venezuelan oil basket price ended at USD 100.56 a barrel.
"Optimism about the US tax deal and favorable signs from China's economy shored up oil prices during the first week of the year," the ministry said in a press release.
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.