Venezuelan oil basket soars 1.7%; ends at USD 104.92
Optimism about the global economy spurred by USD 1.76 the oil price
"Optimism over the global economy and concerns over supply in the Middle East due to geopolitical tensions boosted oil prices this week," explained the ministry in its website.
Consequently, the Venezuelan oil basket averaged USD 102.25 per barrel in January.
Translated by Jhean Cabrera
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.