Venezuela's weekly oil basket price continued to rise for
the eighth straight week -- but only a few cents as oil prices began to
moderate in some well-supplied markets. 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 May 15
was $57.00, up just 26 cents from the previous week's $56.74. WTI in New York averaged $59.95 -- up just 28
cents -- for the week, while Brent crude traded in London actually fell,
averaging $66.11 -- down 64 cents from the previous week. According to
Venezuelan government figures, the average price in 2015 for Venezuela's mix of
heavy and medium crude is now $47.51. More…
Monday, May 18, 2015
Venezuela Oil Price Up For 8th Straight Week
Venezuela's weekly oil basket price continued to rise for
the eighth straight week -- but only a few cents as oil prices began to
moderate in some well-supplied markets. 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 May 15
was $57.00, up just 26 cents from the previous week's $56.74. WTI in New York averaged $59.95 -- up just 28
cents -- for the week, while Brent crude traded in London actually fell,
averaging $66.11 -- down 64 cents from the previous week. According to
Venezuelan government figures, the average price in 2015 for Venezuela's mix of
heavy and medium crude is now $47.51. More…
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