Venezuela's Chavez: Oil Price Decline Isn't Alarming
CARACAS -(Dow Jones)- President Hugo Chavez said he was unconcerned by the
recent drop in the price of oil.
"I don't think that the decline last week is something to worry about," Chavez
told a press conference Friday. "There are no threats in sight," he added.
Chavez said oil prices were moving between a $50 to $70 per barrel price band
and that the recent decline was within that range.
The president added that the decline probably responded to oversupply in the
market, but that his government didn't have any plans to call for an emergency
OPEC meeting.
-By Darcy Crowe and Raul Gallegos, Dow Jones Newswires; (58) 414 249 6821;
darcy.crowe@dowjones.com
(END) Dow Jones Newswires
07-10-091522ET
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