EnergiesNet.com 15 12 2023
The price of Venezuelan crude oil (Merey blend, the Venezuelan reference within the OPEC basket) averaged $70.7 per barrel in November 2023, a drop of $1.8 compared to the previous month, according to OPEC data
The value of Venezuelan crude oil has been above $70 for the last 3 months in a row, above the average price for the first 8 month of 2023 of $61.1 .
The Venezuelan Ministry of Petroleum stopped reporting the price of oil in the second quarter of 2020. Until then, the weekly average was published.
The figures can now be obtained from the monthly report published by OPEC and whose information comes directly from PDVSA or the Ministry of Petroleum. Due to market conditions as a result of volatility and inconsistency of Venezuela’s oil production, Venezuela is forced to sell below the marker price.
Source: Opec, Economia Hoy
EnergiesNet.comn 12 15 2023