OPEC secretary general arrives in Venezuela
Baku, Azerbaijan, Jan.16
By Leman Zeynalova – Trend:
OPEC Secretary General Mohammad Sanusi Barkindo has arrived in Venezuela, according to the Twitter page of the country’s Ministry of the People's Power of Petroleum and Mining.
Barkindo will meet with Venezuelan authorities to exchange views on the oil market, said the ministry.
Earlier, Venezuelan President Nicolas Maduro said that he intends to put forward a new proposal on stabilizing the oil prices.
During the Vienna meeting held Nov.30, OPEC members decided to implement a new OPEC-14 production target of 32.5 million barrels per day. Later, non-OPEC countries agreed to cut the oil output by 558,000 barrels per day during the meeting held Dec.10.
Eleven non-OPEC countries agreed to reduce the oil output: Azerbaijan, Kingdom of Bahrain, Brunei Darussalam, Equatorial Guinea, Kazakhstan, Malaysia, Mexico, Sultanate of Oman, the Russian Federation, Republic of Sudan, and Republic of South Sudan.
OPEC and non-OPEC countries pledged to implement the reached deal from Jan.1, 2017.
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