Venezuelan oil basket rebounds; ends at USD 97.15
Venezuelan oil price climbed (1.34%) after reporting negative results over the last four weeks
The oil basket rebounded USD 1.29 (1.34%) with respect to last week (USD 95.86 per barrel), after reporting negative results over the last four weeks.
The ministry added that oil prices hiked amid lingering concerns early this week over tensions in the Middle East hitting oil supply, and a sudden fall in US oil stocks.
Venezuela's average oil price so far this year hit USD 104.09 per barrel.
With reporting by Ender Marcano
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.