OPEC AND OIL PRICES

Venezuela Abandons Official Prices 

Venezuela has effectively abandoned official prices for its crude oil sales. According to an official announcement in Caracas on 9 February, the Venezuelan Government has instructed the national oil company Petroleos de Venezuela (PDV) to take "the necessary commercial measures" to assure that Venezuela will meet its original oil export target of 1.41mn b/d for 1986. The announcement, which was read by Acting Energy...