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OPEC predicts stable oil market in 2017, Venezuela is seeking to price $ 70
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 OPEC predicts stable oil market in 2017, Venezuela is seeking to price $ 70 |     |
Economy News / Follow-up Expect the Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo the return of stability to the oil market this year, at a time when Venezuela said that seek to increase the prices it hopes that its basket of crude rises to $ 70 a barrel in the coming months. Barkindo and returned to Caracas for a meeting is the second in two months with Venezuelan President Nicolas Maduro, who praised the Secretary General of OPEC, in turn, "inspiring" in agreement producers to cut production. Barkindo said during a news conference with Maduro "We are still optimistic, Mr. President, that the full implementation in time for this historic agreement between us and (producers) are not members of OPEC will improve the position of our economies dramatically in 2017. "I will return stability of the oil market, which has eluded us for about three years on a sustainable manner as was in the interest of producers and consumers and the global economy." Under the agreement, which was reached in late 2016, OPEC and Russia will cut other producers outside the Organization of Petroleum their supplies by about 1.8 million barrels a day for six months initially. Maduro said who sent officials around the world over the past two years to rally support for production cuts that he hoped that the agreement will help to raise the basket of Venezuelan crude to $ 60 in the first half of 2017 and to $ 70 later this year. Venezuela's oil was trading at $ 44.82 a barrel last week compared with an average price of $ 35.15 a barrel in 2016 and Venezuela among the most affected by the drop in crude prices. Barkindo added that Venezuela will play the new oil minister, Nelson Martinez pivotal role in the new joint commission between OPEC and independent producers and concerned production monitoring http://economy-news.net/content.php?id=6486 | |
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