Venezuela Oil Price Starts 2014 at Low

Venezuela's weekly oil basket stayed below the country's desired $100 a barrel floor for 2013 and fell further in the first week of 2014.  According to figures released by the Venezuela Ministry of Energy and Petroleum, the average price of Venezuelan crude sold by Petroleos de Venezuela S.A. (PDVSA) during the week ending January 10 was $94.34, down $2.45 from the previous week's $96.79. More...