Venezuelan oil basket climbs to USD 101.31 per barrel
The average oil basket jumped USD 0.75 in relation to last week, and hit USD 101.14 per barrel so far this year
Based on information released on the website of the Ministry of Petroleum and Mining, the oil price was determined by "positive indicators of the Chinese and European economies. The increase is also attributed to a drop in the value of the US dollar with respect to other currencies."
Upon this week's results, the Venezuelan oil basket yearly average price stands at USD 101.14 per barrel.
With reporting by Ender Marcano
Translated by Jhean Cabrera
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.