Venezuela says oil price fair between $60 and $80

28. January. 2010
Reuters

Oil prices are stabilizing in a band between $60 and $80 per barrel which is a "fair" price for oil at the moment, Venezuelan President Hugo Chavez said on Thursday.

Venezuela under the leftist Chavez has been a consistent OPEC hawk, frequently seeking more aggressive production cuts than other member nations.

The country's oil generally trades for about $10 less than benchmark prices such as West Texas Intermediate. Chavez did not specify if he was referring to Venezuelan or world oil prices.