Press "Enter" to skip to content

Venezuela is proposing to OPEC to approve the oil agreement and ensure production cuts

BAGHDAD, Venezuelan President Nicolas Maduro announced on Friday that he plans to submit a proposal to OPEC, which would cut production significantly.

"Venezuela will present a proposal at the OPEC meeting on December 6 to approve the oil agreement, and to ensure [production] to reduce the market balance and protect prices," the Venezuelan President said on state television.

Maduro added that the price drop of Venezuelan oil over the past 15 days by $ 18 a barrel was due to pressure on the oil market by the United States.

It is worth noting that the OPEC Ministerial Meeting is scheduled to take place from 6 to 7 of December in Vienna.

Source: National Iraqi News Agency

© Copyright 2019. All Rights Reserved. Saudi Arabia News Express