Venezuela's Energy minister Silva ''says $25/barrel oil and above is target price''

Published February 13th, 2001 - 02:00 GMT

Venezuela's Energy a Minister Alvaro Silva Calderon said Monday that $25 per barrel and beyond was the target for oil prices.  


He added that consuming nations were all right with oil price at the $25 per barrel mark and only after $ 30 per barrel the price became a problem, Silva said that he hoped oil prices would stay within the $22-$28 OPEC price band.  


"We have not observed that this range is having any negative effect on world economy," Silva said.  


The "$25 and above is the outlook." Silva said, " prices below $25 per barrel would be a problem for Venezuela and other OPEC nations".  


"Consumers, now and for some time, are satisfied with oil at $25 a barrel," Silva said. 


He reiterated last Friday in a speech at Georgetown University in Washington DC, that the oil price producers receive is much lower than that reported in the media.  


One of the reasons oil prices in industrialized countries are high is due to higher taxes on oil within those nations, he said. 


© 2001 Mena Report (

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