Venezuela continues boosting the balance of the world oil market

Venezuela continues to promote the balance of the oil market in search of favorable conditions that propitiate profitability scenarios, for producing countries, consumers and also investors, as said the Minister of People’s Power for Petroleum, and also President of Petróleos de Venezuela (Pdvsa), Manuel Quevedo.
The Venezuelan official participated in the 15th Ministerial Meeting of joint monitoring of the countries of the Organization of Petroleum Exporting Countries (OPEC) and Non-OPEC countries, in which the participants reviewed the supply and demand of the world oil market, as part of constant monitoring in order to keep the oil market stable.
«We are seeing the fruits of this coordination and the progress of this monitoring that does not lead to another objective but to the stability of the world oil market for the benefit of producing countries, consumers and also investors», he explained.
The Organization of Petroleum Exporting Countries (OPEC) agreed on Monday in Vienna, Austria, the extension of its voluntary adjustment of production for 9 months more, until March 31, 2020, in order to contribute to the balance in the world hydrocarbons market.