If investments in fields are to be sustained and shortages avoided, it is necessary for oil prices to hover around US$70 a barrel as per Venezuelan Energy and Oil Minister. Oil-exporting nations have been faced with drastic drop in revenue due to a 10% plunge in crude oil values in the past six months.
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Wednesday, January 21, 2009
US$70 per barrel is ideal price for oil to sustain investments in fields and avoid shortages
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