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