Venezuela: Venezuelan oil price climbs to a four-month high in January
February 12, 2013
In January, the average price of the Venezuelan mix of crude oils rose 4.0% over the previous month to USD 101.7 per barrel, which represents the highest level recorded since September 2012. The January reading followed the 1.1% increase tallied in December. Oil prices mainly benefited from improving economic data for the United States and China.
According to the latest report from the Organization of Petroleum Exporting Countries (OPEC), Venezuelan oil production reached 2.38 million barrels per day (mbpd) in January, slightly up from the 2.36 mbpd seen in December.
Author: Ricardo Aceves, Senior Economist