Venezuelan oil basket up 1.64%; ends at USD 108.75
The Venezuelan oil barrel spiked USD 1.76 this week
"Oil prices continue their upward trend this week amid favorable economic information from China and the US, geopolitical tensions in the Middle East, and the weakness of the US dollar with respect to the euro," the ministry posted on its website.
Consequently, the Venezuelan oil basket annual average price stands at USD 104.04 per barrel.
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.