Venezuela Tries To Rally Support For Oil Producer Meeting
2016-08-11

CARACAS, Aug 10 (Reuters) - Venezuela on Tuesday said it was trying to rally support for a meeting of oil producers to agree measures to prop up oil prices, the struggling Latin American country's biggest source of income.

Venezuela, a member of the Organization of the Petroleum Exporting Countries (OPEC), is suffering from an economic and political crisis and relies heavily on oil export revenues.

Its government has long called for oil producers to come up with measures to buoy oil prices.

President Nicolas Maduro said on Tuesday night on state television that he was in talks with several other oil exporters to organise a producer meeting.

Russia, the world's largest oil producer, said on Monday it did not see any ground for new talks on freezing oil output but said it was open to negotiations.

Since the plunge in oil prices in 2014, Venezuela has repeatedly tried to broker deals to freeze production and reduce a supply glut, with limited success, as no oil producer was willing to cede market share by voluntarily cutting output, instead expecting competing exporters to restrict production.


Copyright © Longji Network

 

Contact Us:

Email : info@kundapetro.com

Website: www.kundapetro.com

Address: Shouguang, 262700, Shandong, China