Venezuela's Chavez eyes oil price band

Venezuelan President Hugo Chavez wants to take measures to keep oil prices between $80 and $100 a barrel. Chavez told reporters Monday night that such a move would help settle oil price volatility that had led to "terrible uncertainty." The socialist leader said that Venezuela was evaluating oil prices but had plenty of international reserves and slush funds to weather the financial storm. He said Venezuela did not plan to cut social spending. Venezuelan officials have said they will push for production cuts of 1 million barrels per day at OPEC's meeting in Cairo on Saturday.