The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, announced the sending of a letter to the Organization of Petroleum Exporting Countries Plus (OPEC+) with the aim of adjusting its coordination mechanisms and defining long-term strategies, a proposal that seeks to strengthen market stability, guarantee investment recovery, and establish fairer prices for the energy sector:
«I am sending a letter to all the heads of state and government of the OPEC Plus countries in order to better assess the situation and adjust OPEC Plus’s official fine-tuning mechanisms. It is necessary to visualize the second half of this year and project a strategy that allows stability, investment recovery, and fairer and better prices than we currently have,» emphasized the head of state during the 81st edition of the «Con Maduro+” program.
He also highlighted the organization’s historic role in regulating the global oil market: «OPEC Plus has existed for almost nine years, while OPEC has been in existence for more than 60 years. We are founders, and we promoted the expansion of OPEC Plus to include other oil giants, such as Russia. Since its creation, it has guaranteed market stability, investment, and a balanced and fair price,» he stated.
He also addressed the growth of the pharmaceutical market in Venezuela, noting that domestic production increased by 29%, with more than 32 million units sold: «This is an example of how the country’s 13 Engines are advancing organically. It is essential to deepen import substitution, which is key to the new diversified economic model. We have how to do it, we’ve already done it, and we will continue to overcome any challenge in the future,» he stated.
Finally, he reiterated his commitment to strengthening the Venezuelan economy through integral strategies that boost domestic production and consolidate the country’s energy sovereignty.