Venezuelan President Hugo Chavez said Thursday he would be happy to see oil prices at around $100 a barrel, a news report said. After meeting with Portuguese President Anibal Cavaco Silva, Chavez said market speculation was to blame for the rise in oil prices, the Portuguese news agency Lusa reported. The barrel price stood at around $125 on Thursday. 'If (prices) stabilize at around $100, I think that would be right,' Chavez told Lusa during an official visit to Lisbon, Portugal.
Chavez said earlier this month that a price of $100 a barrel would be enough to keep his country's economy afloat. Portugal and Venezuela on Wednesday signed bilateral cooperation agreements covering construction, pharmaceuticals and telecommunications.
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