Heavy Oil Investing News » Venezuela to review average oil price in fiscal ’09 budget

Venezuela to review average oil price in fiscal '09 budget

March 19, 2009 @ 9:18 am In Heavy Oil Market News

Venezuelan economic authorities are fine tuning the policies to be implemented amidst falling revenues.

Ricardo Sanguino, chair of the Finance Committee, National Assembly, said:

We cannot say that the current price of oil is USD 60. The price has stabilized. However, the current price is not the real value of oil.

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[1] here: http://english.eluniversal.com/2009/03/19/en_eco_esp_venezuela-to-review_19A2260219.shtml