According to figures released by the Venezuela Ministry of
Petroleum and Mining, the average price of Venezuelan crude sold by Petroleos
de Venezuela S.A. (PDVSA) during the week ending September 9 was $38.71, down
21 cents from the previous week's $38.92. WTI in New York averaged $45.37 -- down 40
cents -- for the week, while Brent crude traded in London averaged $47.94 --
down 4 cents from the previous week. According to Venezuelan government
figures, the average price in 2016 for Venezuela's mix of heavy and medium
crude is now $32.95 for the year to date. Venezuela's average oil price for
2015 was $44.65, down from 2014's $88.42, below 2013's $98.08, 2012's $103.42
and 2011's $101.06, 2010's $72.43, and even 2009’s average price of $57.01. More…
Tuesday, September 13, 2016
Venezuela Oil Price Slips Further Below $40
According to figures released by the Venezuela Ministry of
Petroleum and Mining, the average price of Venezuelan crude sold by Petroleos
de Venezuela S.A. (PDVSA) during the week ending September 9 was $38.71, down
21 cents from the previous week's $38.92. WTI in New York averaged $45.37 -- down 40
cents -- for the week, while Brent crude traded in London averaged $47.94 --
down 4 cents from the previous week. According to Venezuelan government
figures, the average price in 2016 for Venezuela's mix of heavy and medium
crude is now $32.95 for the year to date. Venezuela's average oil price for
2015 was $44.65, down from 2014's $88.42, below 2013's $98.08, 2012's $103.42
and 2011's $101.06, 2010's $72.43, and even 2009’s average price of $57.01. More…
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