Venezuela's OPEC Proposal Focuses on Oil Price, Not Volumes
- Proposed meeting to include non-OPEC countries such as Russia
- Venezuela-Saudi Arabia relations `excellent,' Rodriguez says
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Venezuelan proposals for a summit between OPEC and non-OPEC producers are advancing, and should focus on bolstering oil prices rather than limiting volumes, government officials said Tuesday.
The country seeks a fair price for oil that will support economic growth and energy demand, Oil Minister Eulogio Del Pino said in an interview at Tuesday’s meeting between Venezuelan and Saudi Arabian officials in Caracas. The oil price floor Venezuela is suggesting would be analyzed every quarter, he said.