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Venezuela needs 2014 brent oil price of $121: Deutsche

Posted on 14 April 2014

Venezuela, holder of the world’s largest oil reserves, requires the price of Brent crude to average $121 a barrel this year, about $14 more than current prices, for the country’s government to balance its budget, according to Deutsche Bank AG.
The break-even oil price for the South American nation has fallen from about $150 a barrel last year, the bank said, after the government allowed its currency to weaken last month to alleviate shortages of imports including medicine, food and toilet paper. Oil producers Russia, Nigeria and Bahrain also need prices higher than $100 a barrel to balance their budgets this year, Deutsche Bank said………………………………………..Full Article: Source


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