Venezuelan oil minister calls for revision of global production agreement
15:52 - 08/09/2017
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Venezuelan Oil Minister Eulogio del Pino urged the Organization of the Petroleum Exporting Countries (OPEC) and its partners on Friday to review the global agreement on production cuts to ensure a sustainable flow of investments into the sector.
"The review should be conducted" very carefully "based on the results of the Global Compact so far," Del Pino said at an energy conference in Kazakhstan.
Oil prices rose on Friday as Hurricane Harvey's US crude output was hit more than expected, as the biggest storm headed for Florida, warning more disruption to the oil sector.