TODAY VENEZUELA (El Universal) The price of Venezuelan crude oil lost US$2.47 and hit US$47.05 last week, as reported by the Venezuelan Ministry of Petroleum and Mining.
The Ministry noted that “the downward trend in crude oil prices continued amid signs of abundant supply, weak demand, and strengthening of the dollar”
The Ministry informed that “in a period characterized by low activity, the downward trend in crude oil prices continued amid signs of abundant supply, weak demand, and strengthening of the dollar.”
Crude oil prices have been slipping since September 2014, when the oil barrel stood at US$95.