Venezuela is present at the 10th meeting of the Ministerial Committee for Joint Monitoring

The Minister of People’s Power for Petroleum and also president of Petróleos de Venezuela, S.A. (PDVSA), Manuel Quevedo, held in Algeria a work meeting with the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Mohammed Sanussi Barkindo.

In this regard, he said that this meeting was conducive to the analysis and review of the strategies for 2019.

He also said that together with the Secretary of OPEC, he advanced a thorough review and a balance, to date, of the results of the OPEP + alliance:

“We are working on what will be the year 2019 to give continuity to the stabilization achieved in the world oil market”, he added.

This meeting served to review issues related to the OPEP + Production Adjustment, as well as to draw up strategies to ensure its optimal compliance.

It is noteworthy that today, September 23, will take place the 10th meeting of the Ministerial Monitoring Committee, of which Venezuela is also a member.

This meeting will be held with the purpose of reviewing the levels of compliance with the Declaration of Production Adjustment, signed in 2016, and its effects on the main indicators of the oil market.

Likewise, during this meeting the projections of the main topics of the international oil market will be reviewed, considering the different scenarios of compliance of said adjustment.

Defense of the oil market:

The holder of the Venezuelan hydrocarbons portfolio, informed that the delegation from the Homeland of Bolívar and Chávez arrived in Algeria fulfilling the instructions of President Nicolás Maduro: “to bring the voice of our beloved Venezuela to the 10th meeting of the OPEC + Joint Monitoring Ministerial Committee ”

Within the framework of this tenth meeting of the Monitoring Committee, will be reviewed the production levels agreed in the Declaration of Cooperation for the Voluntary Adjustment of Crude Production:

“We are going to review the balance of consumer countries, oil producers and investors. Balances that we must maintain over time”, said Minister Quevedo.

Let us remember that this alliance in which Venezuela has had a preponderant role was extended until the end of 2018, during the 6th Meeting of the Ministerial Committee for Joint Monitoring.