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Chavez says oil prices still low
CARACAS
Petroleumworld.com, July 21, 2010Venezuela's President Hugo Chavez said on Monday oil prices were still low and that a minimum price of $80 per barrel for the South American country's crude would be fair.
"It's still in a low range, a fair price for our oil today should not drop below $80," Chavez said in a broadcast with pensioners.
He said the average price for Venezuelan oil this year was between $58 and $59 per barrel. NYMEX crude futures CLc1 closed at $76.58 per barrel on Monday.
Story reporting by Frank Jack Daniel from Reuters
Reuters 07/19/2010
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