Venezuela will assume the presidency of OPEC Conference in 2019

This Wednesday, the Minister of People’s Power for Petroleum and president of Petróleos de Venezuela, S.A. (PDVSA), Manuel Quevedo, held a work meeting with his counterpart from the United Arab Emirates and current President of the OPEC Conference, Suhail Al Mazrouei, and the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Mohammad Barkindo, to adjust details with a view to the upcoming assumption of the OPEC presidency by Venezuela.

The outgoing president of the Conference, the minister from the Emirates, Al Mazrouei, explained to Minister Quevedo the current activities and presented a summary of the pending issues of the OPEC Conference for 2019.

The Ministers and the Secretary General highlighted the importance of the Declaration of Cooperation of Voluntary Adjustment of Crude Oil Production, signed in December 2016, for the stabilization of the world hydrocarbons market.

Likewise, they highlighted the need to continue joint work between OPEC and non-OPEC producing countries.

It is worth remembering that Venezuela will assume the presidency of the OPEC Conference as of January 1, 2019.