CARACAS - Venezuelan President Hugo Chavez sees $80 per barrel as a "fair" price for oil, according to a government statement sent out late Monday.
Energy Minister Rafael Ramirez in recent weeks said he expected oil prices to stabilize at $70 a barrel, describing that price as the minimum necessary to maintain investments in oil production.
"The price is stabilizing, oil prices will slowly increase until they reach a fair price band," Chavez said while visiting Doha for a meeting of Arab and Latin American leaders, according to the statement.
"At this moment I consider that fair price to be $80 per barrel," he said.
Energy Minister Rafael Ramirez in recent weeks said he expected oil prices to stabilize at $70 a barrel, describing that price as the minimum necessary to maintain investments in oil production.
"The price is stabilizing, oil prices will slowly increase until they reach a fair price band," Chavez said while visiting Doha for a meeting of Arab and Latin American leaders, according to the statement.
"At this moment I consider that fair price to be $80 per barrel," he said.
