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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