Venezuela Says Oil at $50 Enough to Avoid PDVSA Default
- Company President Eulogio Del Pino speaks on Bloomberg TV
- State oil company’s average output cost around $12 a barrel
Can Venezuela Survive on $50 Oil?
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Crude prices around $50 a barrel are enough for Venezuela’s state oil producer to avoid a default on its debt, company president and national oil minister Eulogio Del Pino said Thursday in an interview.
“$50 is enough,” he said on Bloomberg Television from Russia at the St. Petersburg International Economic Forum. The company’s average production cost is around $12 a barrel, he said.