| The price Venezuela receives for its mix of medium and heavy continued rising aggressively, closing above $40 for the first time since August after OPEC announced an agreement for an oil output cut.
According to figures released by the Venezuela Ministry of Petroleum and Mining, the average price of Venezuelan crude sold by Petroleos de Venezuela S.A. (PDVSA) during the week ending October 7 was $41.58, up $2.77 from the previous week's $38.81. WTI in New York averaged $48.89 -- up $2.90 -- for the week, while Brent crude traded in London averaged $50.95 -- up $3.52 from the previous week..............................................Full Article: Source
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