The Vice-Minister of Hyrdocarbons of the Ministry of Energy and Mines of Venezuela, Bernardo Alvarez, today said that speculative events are influencing the increase in crude oil prices. The Press Office of the Second OPEC Summit informed in a press release.
"Prices are high because of speculation (in the market)," Alvarez said.
The Vice-Minister added that Venezuela had offered the United States Government storage for as much as 1.4 million barrels per month of heating oil at facilities belonging to Petróleos de Venezuela (PDVSA) in the Bahamas.
Venezuela made this offer to the United States in case of any crisis in the supply of this fuel, especially considering the approach of winter in the Northern Hemisphere.
Vice-Minister Alvarez made his remarks at the press conference held today in Caracas by OPEC Secretary-General Rilwanu Lukman, in preparation for the Second Summit of Sovereigns, Heads of State and of Government of the member countries of OPEC.
( petroleumworld )
