The Venezuelan delegation, led by the Minister for Energy and Petroleum, Manuel Quevedo, participates in the sixth meeting of the Ministerial Monitoring Committee of the Organization of Petroleum Exporting Countries (OPEC), which is being held in Vienna, Austria.
The information was disclosed by the holder of the Oil portfolio through his Twitter account:
Manuel Quevedo
@MQuevedoF
“Venezuela participates in the 6th Meeting of the Joint Ministerial Monitoring Committee of the Organization of Petroleum Exporting Countries in Vienna, 29Nov2017. Our country has complied with the quota established in the 2016 Cooperation Declaration, OPEC.”
17:45 – November 29 2017
The Monitoring Committee is made up by Venezuela, Kuwait, Algeria, Oman and Russia. The meeting will be attended by representatives of OPEC and independent external producers.
The meeting will evaluate a possible extension of the agreement -which took effect on January 1, 2017 and was extended until the end of March 2018- in which OPEC members committed to take 1.2 million daily crude barrels out of the market, and 558,000 barrels for producers outside the block.
