Venezuela's Chavez predicts oil could reach $200 a barrel
Venezuelan President Hugo Chavez says he expects oil prices to keep climbing and predicts they could reach US$200 a barrel.
By Agencies |
CARACAS: Venezuelan President Hugo Chavez says he expects oil prices to keep climbing and predicts they could reach US$200 a barrel.
It isn't the first time the Venezuelan leader has mentioned that benchmark _ though he hasn't said when it might be reached.
Chavez reiterated the prediction after the price of light, sweet crude continued to rise on the New York Mercantile Exchange and settled at US$136.38 a barrel on Wednesday.
Chavez said in a televised speech Wednesday night that oil should be US$100 a barrel, but could keep rising to US$200.
He blamed the falling U.S. dollar, U.S. ``threats'' against Iran, and what he called ``bad management'' of the U.S. economy for driving rising prices.
Venezuela is the fifth-largest supplier of oil to the U.S.
It isn't the first time the Venezuelan leader has mentioned that benchmark _ though he hasn't said when it might be reached.
Chavez reiterated the prediction after the price of light, sweet crude continued to rise on the New York Mercantile Exchange and settled at US$136.38 a barrel on Wednesday.
Chavez said in a televised speech Wednesday night that oil should be US$100 a barrel, but could keep rising to US$200.
He blamed the falling U.S. dollar, U.S. ``threats'' against Iran, and what he called ``bad management'' of the U.S. economy for driving rising prices.
Venezuela is the fifth-largest supplier of oil to the U.S.
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