Venezuelan Crude at 4-Year Low

Venezuelan Crude at 4-Year LowVenezuelan Crude at 4-Year Low

The Venezuelan petroleum export basket, which includes crude oil and refined products, dropped on Friday to $75.90 per barrel, its lowest level in nearly four years due to oversupply concerns. The Venezuelan basket, which trades at a discount to other benchmarks because of its higher content of heavy oil, has fallen for seven straight weeks, Reuters reported.