CARACAS: The Venezuelan oil basket and byproducts continue on a downward trend, averaging USD 45.87 per barrel this week, mainly due to concerns over economic slowdown in China, said the Ministry of Petroleum and Mining.
Between July 27-31, Venezuelan oil lost USD 2.02, also as a result of oversupply of crude oil worldwide, Reuters reported. This figure is USD 1 below the data provided by Venezuelan President Nicolás Maduro, who had informed on Thursday that the price of oil stood at USD 46 per barrel.
The price of Venezuela crude oil has declined by USD 10.48 in July from June, when it averaged USD 56.35 per barrel.
