Venezuelan oil price drops

Jan 12, 2007 01:00 AM

The price of the Venezuelan oil and its by-products dropped $ 3.59, with a barrel of oil (159 litres) currently at $ 46.87, official sources informed.
According to preliminary figures by the energy and oil ministry, the 11 types of OPEC hydrocarbons have shown similar behaviour.

The price of Venezuelan oil in the first two weeks of 2007 has averaged $ 48.47 per barrel, after it grew by nearly 22.9 % in 2006, compared to the previous year, official sources indicated.
According to the ministry, the current behaviour was influenced by warm temperatures in the northern hemisphere, and the announced resumption of Russian oil exports to Europe, after the conflict with Belarus was solved.

Source: Prensa Latina
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