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Venezuela's Chavez: Oil Price Decline Isn't AlarmingCARACAS -(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 Copyright (c) 2009 Dow Jones & Company, Inc. |
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