Chávez espera una estabilización del petróleo

Chavez hopes for a stabilization of oil

Venezuelan President Hugo Chavez said OPEC’s actions have halted oil’s slide and will arrive at a “just” price at $80 per barrel.

by Reuters

Caracas Venezuelan President Hugo Chavez said OPEC’s actions have halted oil’s slide and will continue to stabilize around a “just” price, he said, at $80 per barrel.

International oil prices lost more than 100 dollars after reaching a historic high in mid-2008, pressured by the fall in demand caused by the global economic crisis, despite a recovery in recent weeks.

In an official press release Monday night, the leader said that the Organization of Petroleum Exporting Countries (OPEC) had avoided a “catastrophic scenario” with cuts in production.

“The price will continue stabilizing and oil prices will continue to rise until reaching a just price. “That just price I consider now should be around 80 dollars, “Chavez said in Qatar attending a summit of Latin American and Arab leaders.

***
If you need a document translated from Spanish, French, and Portuguese, please contact your Buenos Aires Translator on his cell in Buenos Aires, Argentina, at 1160 461 342 or worldwide at his email account: mrenglish101@gmail.com.

A prompt response is assured and so is a professional and precise translation. Get yours today!