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Article: Venezuela Oil Policy Shift Seen Post-Chavez.(Brief Article)
- Article from:
- The Oil Daily
- Article date:
- April 15, 2002
CopyrightCOPYRIGHT 2002 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Venezuela Oil Policy Shift Seen Post-Chavez
The dramatic departure of hard-line leftist Hugo Chavez as president of Venezuela after a bloody social uprising puts into question how long the South American nation will continue to abide by Opec production restraints at the cost of its market share and development of key petroleum reserves.
World oil prices slumped more than $1.50 per barrel on Friday on news that Chavez had "resigned" to the nation's top military officials. Traders and analysts believe that the ousting of Chavez, instrumental in bringing Opec's biggest quota buster into the fold, could trigger a price war that pushed crude below $10/bbl in ...