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President Nicolas Maduro said the oil price now is just the half of the reasonable price, the reasonable price should be roughl $88 ,then it can guarantee the investments in coming years ,he conveys this to the OPEC and non-OPEC producer nations’ leaders. He explains Venezuela depends on oil for about 96% of hard currency income .
“We are going to present proof, technical elements, at this meeting tomorrow, that the average price needed to guarantee global investments in the next five to 10 years should be $88,If the price of oil stays at $40, there will be a depreciation of investment, and within a few months we are going to see a price of $150, $200. ”
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