Venezuela negotiating with Azerbaijan on oil production

  05 October 2016    Read: 1771
Venezuela negotiating with Azerbaijan on oil production
If OPEC members formalize the deal on output cut, this would seriously affect the prices, Venezuela`s Oil Minister Eulogio Del Pino.
He reminded, the final decision will be made on November 30 in Vienna: “If this deal is formalized, the oil price may stabilize. I think the prices will be $10-16 higher than September’s price”.

Del Pino noted, OPEC may cut output by 0.7 bpd: “According to deal between OPEC and non-OPEC members, the suggestion may be cut 0.5 bpd in addition. Active negotiations are being conducted with Oman, Russia, Kazakhstan and Azerbaijan to stabilize the output. I hope these countries will join the "historic agreement””.

More about:


News Line