Maduro noted the progress on an agreement on stabilization of oil prices

Maduro noted the progress on an agreement on stabilization of oil prices


OPEC members internal and external to the organization in the country close to a compromise, said the President of Venezuela. However, there is still a lot of work, says Nicolas Maduro.

MEXICO city, 31 Jan –. OPEC members internal and external to the organization in the country close to an agreement on measures to stabilize oil prices, said Saturday the President of Venezuela, Nicolas Maduro.

“We are already close to oil agreement between OPEC and non-participants, but to say “closest” does not mean that it has already achieved”, — quotes the statement of Maduro portal El Nacional.

The word Maduro coincided with the departure of oil Minister of Venezuela, Eulogio del Pino in a big tour, which he starts on 1 February with a meeting in Moscow with Russian energy Minister Alexander Novak. He will also meet representatives of Russian oil companies, and then have to visit Qatar, Iran, Iraq and Saudi Arabia.

“If managed to provide moderate growth (prices) of oil, we would not be able to afford a new fall, we would have to maintain this rhythm, this direction”, — said the President of Venezuela. Previously, he stated that offers to negotiate up to the visit of its Minister for steps to restore oil market, if all stakeholders come to an agreement.

Oil analyst and Director of the energy Agency PetroleumWorld Elio EIA said earlier that the market should respond to the possible actions of Russia, controlling along with Saudi Arabia oil production totaling about 20 million barrels a day, in case of reaching any agreement with OPEC. At the same time, the expert stressed that even if such agreement from reducing production to wait too much change in the price of oil is not necessary — it can only affect the suspension of falling prices and maintaining them at a reasonable level at 30 to 40 dollars per barrel in the coming months.