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Venezuelan oil prices slump USD 10

So far this year, the Venezuelan oil barrel averages USD 101.33 (Photo: Eraldo Peres / AP)

Economy

The price of the Venezuelan oil barrel ended this week at 81.78, following a decline of almost USD 10, compared to last week, when oil prices closed at USD 91.54.

The USD 9.76 shrinking in one week was mirrored on Friday afternoon on the official website of the Ministry of Energy and Petroleum.

So far this year, the Venezuelan oil barrel averages USD 101.33.

"Oil prices continue decreasing mainly caused by the winding up of contracts in the oil future market in view of the fear about the US financial crisis affecting the world oil demand," stated the Ministry.

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