Venezuelan President Nicolas Maduro has suggested that countries making up the OPEC group of oil producers and oil-rich non-OPEC nations should hold a summit to set out a pricing strategy for the next decade, Sputnik reported.
The proposed meeting should be held in the first quarter of 2017, Maduro said late Tuesday.
"I plan to propose in writing that we should hold a summit of heads of state and government from the OPEC and non-OPEC member states in the first quarter of 2017 to discuss how to stabilize the oil market and protect fair prices in the next 10 years," Maduro said, as quoted by the national news agency AVN.