Bloomberg News

Chavez Says Oil Prices Fallen Due to Crisis, Overproduction

June 24, 2012

Venezuelan President Hugo Chavez said oil prices have fallen because of an economic crisis in Europe and the U.S. and overproduction among some member countries of the Organization of Petroleum Exporting Countries.

Chavez spoke on state television.

To contact the reporter on this story: Jose Orozco in Caracas at

To contact the editor responsible for this story: Joshua Goodman at

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