Venezuela's President Hugo Chavez said on Monday that $100 was a "just" price for a barrel of oil.
Chavez said crude was a non-renewable energy source and it's price should reflect that. "Today the price of oil is at a just level, it is not high," he said on state television.
The OPEC nation's leftist government has seen its oil income soar as prices for its crude have surged to around the $100 mark.
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