Economy The price of the Venezuelan oil basket should stabilize between USD 80 and USD 95 bpd, after the fall in oil crude prices amid the financial crisis in the United States, said on Tuesday Venezuela's President Hugo Chávez.

At the close of last week, the local basket averaged USD 102.03 per barrel for the whole year and USD 97.35 per barrel by September.

"This crisis, this collapse, this downfall has affected the whole planet. There are some scenarios in the prices of oil that suggest stabilization around USD 90. We expect stabilization, despite the crisis, between USD 80, 90 or 95 per barrel. Those are the indicators we have up to now."

Chávez said that every country should review the risk it runs "due to the financial collapse of the United States" and said it was too early to say that the crisis will affect Latin America. The Venezuelan president added that the financial crash could affect the region by reining in financing and development plans.