As I post in several post months ago, Venezuela, the country which I will spoke in my final project is one of the largest producers of oil on the world, a member of the OPEP (Organización de paises exportadores de petróleo), according to the Spanish initials.
Price per barrel of oil has been increasing in the last months, because it is expected that the demand for it will increase due to the recovery of many countries of the economic recession. Still, US stockpiles of crude oil have posted nine straight weekly increases. It held 354.2 million barrels on March 26, 6.5pc above the five-year average for the period, the US energy department said last week.
OPEP pumps about 40pc of the world's oil. It slashed output in January 2009 in order to prevent a glut. The group left its production targets unchanged when ministers met in Vienna on March 17.
Venezuela, is the group's sixth largest producer, is seeking a price band between $80 and $100 a barrel, Rafael Ramirez told reporters in Caracas on April 2. Prices are benefiting from OPEC's decision to maintain production restrictions, President Hugo Chavez said on state television on April 1.
So it seems that “ours” country economy will keep being good as far as the demand for oil do not drop again like in the summer of 2008 when the price reached almost 150$ per barrel.
Price per barrel of oil has been increasing in the last months, because it is expected that the demand for it will increase due to the recovery of many countries of the economic recession. Still, US stockpiles of crude oil have posted nine straight weekly increases. It held 354.2 million barrels on March 26, 6.5pc above the five-year average for the period, the US energy department said last week.
OPEP pumps about 40pc of the world's oil. It slashed output in January 2009 in order to prevent a glut. The group left its production targets unchanged when ministers met in Vienna on March 17.
Venezuela, is the group's sixth largest producer, is seeking a price band between $80 and $100 a barrel, Rafael Ramirez told reporters in Caracas on April 2. Prices are benefiting from OPEC's decision to maintain production restrictions, President Hugo Chavez said on state television on April 1.
So it seems that “ours” country economy will keep being good as far as the demand for oil do not drop again like in the summer of 2008 when the price reached almost 150$ per barrel.
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