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Article: Venezuela: Venezuela Wants OPEC to Maintain Output in December.
- Article from:
- TendersInfo
- Article date:
- October 31, 2009
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Byline: manish03
Venezuela wants the Organization of Petroleum Exporting Countries to maintain production when the group meets in December, Oil Minister Rafael Ramirez said.
For this meeting, Venezuela prefers to be cautious, Ramirez said today in an interview in El Tigre, Venezuela. The level of OPEC production has to be maintained.
OPEC member nations will meet in December in Angola to discuss output quotas. They agreed last December to cut output by a record 4.2 million barrels a day after oil prices sank 70 percent from a record $147.27 a barrel in July 2008.
Oil has rallied 72 percent this year as investors use the commodity as a ...