Venezuela proposes to hold a summit of OPEC and outside the organization countries

Венесуэла предлагает провести саммит ОПЕК и не входящих в организацию стран

Venezuelan President Nicolas Maduro declared that suggests to hold a summit of heads of state and government of OPEC members and not members of this organization of countries to develop a strategy to stabilize the oil prices for 10 years.

“I want to offer, and do it in writing, in the first quarter of 2017, we held a summit of heads of state and government of OPEC and not of its member States to consider proposals to stabilize the oil market for 10 years and the protection of fair and reasonable prices”, — quotes Agency the statement of the AVN Maduro at an event in the state of Carabobo.

Maduro also spoke about his conversation with Russian President Vladimir Putin. According to him, during the meeting discussed, in particular, the question of stabilization of the oil market and the November agreement on the global reduction of the level of production.

OPEC meeting on 30 November ended with a decision in January to cut production by 1.2 million barrels per day — to the level of 32.5 million. The agreement calls for production cuts by countries outside the cartel, 600 thousand barrels per day. Half of this reduction has agreed to provide Russia. On December 10, OPEC has invited 14 countries outside the organization for a meeting in Vienna to discuss measures to stabilize oil market.