This Monday, Venezuela participates in the 180th Conference of the Organization of Petroleum Exporting Countries (OPEC), where the 13 partners will seek a consensus on the possibility of increasing production from January, or maintaining the supply cut until mid-2021.
«We started the week with the participation of VENEZUELA in the 180th MEETING OF THE OPEC CONFERENCE. We reiterate our commitment to multi-lateralism and energy cooperation. OPEC plays a leading role in the economic recovery in 2021. UNITED WE SHALL OVERCOME!! ”, reported the sectoral vice president for the Economy, Tareck El Aissami, in a message on Twitter.
This meeting will be held by video-conference and the decision that arises will be presented this Tuesday to Russia and to nine independent producers to reach an agreement that allows stabilizing the market and oil prices.
An article published in Telesur indicates that both Saudi Arabia and Russia seek to extend the production cut established by OPEC + of 7.7 million barrels per day that has been applied since last August.
The heads of delegations from Angola, Saudi Arabia, Algeria, Congo, United Arab Emirates, Gabon, Equatorial Guinea, Iraq, Iran, Kuwait, Libya and Nigeria participate in the meeting.
