The price Venezuela receives for its mix of medium and heavy
continued rising for the third consecutive week on prospects for an agreement
for an oil output cut. 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 October 14 was $43.09, up $1.51 from the previous week's
$41.58. WTI in New York averaged $50.51
-- up $1.62 -- for the week, while Brent crude traded in London averaged $52.26
-- up $1.31 from the previous week. More…
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