RealNews

Chavez rules out return to cheap oil

In an interview with BBC Newsnight’s Greg Palast, Mr Chavez who is due to host the Opec meeting on 1 June in Caracas said he would ask the oil cartel to set $50 a barrel as the long term level. During the 1990s the price of oil had hovered around the $20 mark falling as low as $10 a barrel in early 1999. Full Story

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