Venezuelan oil basket up USD 106.99
In a week it shot up USD 2.07, according to data supplied by the ministry
Last week rebound stood for USD 1.97%, as in the previous week, the Venezuelan oil basket was traded at USD 104.92 per barrel.
"The prices of most crude oils ended the week upwards mainly due to optimism as to the performance of the global economy and geopolitical strained situation in the Middle East," the ministry broke down.
Thus far this year, the Venezuelan crude oil basket averages USD 103.20 per barrel.
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.