Monday, June 21, 2010

Venezuela Oil Basket Climbs $3.28 This Week To $67.69/Barrel

CARACAS (Dow Jones)--The average price for Venezuela's basket of crude oil and refined products climbed $3.28 to $67.69 a barrel in the week that ended Friday, the Oil Ministry said.

The ministry said that prices were boosted by renewed optimism regarding a global economic recovery, which would generate more demand for oil.

Venezuela's oil-basket average for the year now stands at $70.21 a barrel, compared with $57.02 a barrel for all of last year and 2008's average of $86.49 a barrel.

-By Darcy Crowe, Dow Jones Newswires; (57) 1-703-8953;

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