Russian sledge hockey team may compete in 2018 Paralympics — IPCSport May 22, 18:53
PM Medvedev says envoy’s murder 'left imprint' on Russian consulate’s work in TurkeyRussian Politics & Diplomacy May 22, 18:40
Peruvian fire-fighting service wants to buy Russian Mi-171 helicoptersBusiness & Economy May 22, 18:00
Putin sets task of accelerating work on super-heavy rocketScience & Space May 22, 17:55
Russian PM comments on decision to remove trade restrictions with TurkeyBusiness & Economy May 22, 17:39
Russia and its EU partners discuss entry point for Turkish Stream’s second lineBusiness & Economy May 22, 17:38
Austrian chancellor to address SPIEF-2017 on June 2Business & Economy May 22, 17:00
Russian air defense weaponry sparks interest at Minsk military showMilitary & Defense May 22, 16:54
International Paralympic Committee decides to maintain Russia’s membership suspensionSport May 22, 16:46
CARACAS, November 26 (Itar-Tass) —— The average price of a barrel of Venezuelan oil fell this week to nearly six dollars. From a mark of 111.24 dollars last week it dropped to 105.53 dollars, the Ministry of Energy and Petroleum said. "The prices are influenced by doubts about the course of the global economy, primarily, because of the debt crisis in the euro area, which could have a negative impact on global oil demand, the ministry said in a weekly communique.
The average price of Venezuelan oil was 100 dollars 52 cents, which is two and a half times higher than the forecast of 40 dollars, which the state budget for 2011 is based on.
Venezuela produces 2.97 million barrels of oil per day and exports 2.5 million barrels, which makes it the world's fifth oil exporter. In addition, that South American country has the world's largest proven reserves of crude, the total volume of which is estimated at nearly 300 billion barrels, although much of this oil is heavy and super-heavy. However, there are other estimates, too. For example, U.S. Geological Survey experts believe that in the Orinoco Oil Belt alone the reserves of extra heavy but still recoverable oil total 585 billion barrels.