Venezuela's president sees no recovery in oil prices this year

[CARACAS] Venezuela President Nicolas Maduro said on Monday night there is no recovery in oil prices forecast this year, blaming fracking in the United States for the tumble in the value of the Opec country's top export.

"This year there's no recovery in oil prices forecast. We've done everything but unfortunately the incorrect strategy of President (Barack) Obama's advisers has led to fracking.... flooding the world's oil markets," he said during a televised speech.

REUTERS