Chavez: Real Oil Price is $126

OPEC member Venezuela?s President Hugo Chavez stated that crude oil should cost $126 per barrel. He said that the oil is to rise in price as soon as other goods do that, while OPEC does everything to ase the sky-rocketing prices.

As you remember, crude oil futures jumped to a new high last trading in New York after the Nigerian government and labor union negotiators failed to reach settle differences over fuel prices, and at NYMEX Light sweet crude futures for November delivery rose to $53.25 a barre; and London?s Brent crude futures for November also set a new high, at $49.65, on the International Petroleum Exchange.