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
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.