OPEC Won’t Alter Quota, $100 Is Fair, Venezuela Says
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The Organization of Petroleum Exporting Countries is unlikely to change its output quotas when it meets in nine days time and $100 represents a “fair” price for a barrel of oil, Venezuela’s energy minister said.
Gas-exporting nations also need an OPEC-like body to “regulate” prices, Rafael Ramirez told reporters today. The Venezuelan is one of several ministers attending a meeting in Doha of the Gas Exporting Countries Forum, a gas producers group that does not set supply quotas.