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Venezuelan real salary has fallen 89.9% by March

Monday, March 20, 2017

Venezuela Oil Price Tumbles for 3rd Week

The price Venezuela receives for its mix of medium and heavy oil fell for a third straight week as inventories continued to build and production increased in the USA, Russia and Brazil.  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 March 17 fell to $41.78, down $3.39 from the previous week's $45.17.  WTI in New York averaged $48.44 -- down $3.41 -- for the week, while Brent crude traded in London averaged $51.44 -- down $3.19 from the previous week. More…

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