Wednesday, February 3, 2016

BREAKING 6 Oil-Producing Countries Have Agreed on an Emergency Meeting

Six oil-producing countries have agreed on an emergency meeting between OPEC and non-OPEC member states, the Iranian oil ministry’s news service Shana is reporting on its website, citing Venezuela’s oil minister Eulogio Del Pino.

“Iran has agreed to take part in the meeting and Russia has already announced its agreement,” Shana quoted Del Pino as saying. “Iran is the first OPEC country which I visited to hold talks. Earlier, I visited Russia, which is not an OPEC member.”

According to Bloomberg, Del Pino, who was in Tehran Wednesday on a tour of OPEC and non-OPEC countries, stopped in Russia earlier this week and held talks with officials including Igor Sechin, chief executive officer of the country’s largest oil producer Rosneft OJSC. Del Pino and Sechin talked about possible coordination efforts to stabilize global oil markets, Venezuela’s oil ministry said Tuesday in an e-mailed statement.

Venezuela’s President Nicolas Maduro, seeking to mitigate the impact the decline in oil prices is having on the country’s economy, sent Del Pino on a tour of oil producers. After Russia and Iran, he is planning to visit Qatar, Iran and Saudi Arabia, the world’s largest oil exporter.

 -RW

1 comment:

  1. When capitalist producers meet it's called price fixing.
    When socialist producers meet it's called price stabilizing.

    ReplyDelete