Published On: Mon, Jan 12th, 2015

Venezuela and Saudi Arabia cooperate to stabilize oil prices

54b31cb172139ef20d8b4621WILLEMSTAD - During the visit of the Venezuelan delegation to Saudi Arabia, as part of the tour of President Nicolas Maduro to the member countries of the OPEC, Riyadh and Caracas agreed to cooperate to achieve a recovery in the oil market.

"Excellent meeting with important results. We agreed to work to regain market and oil prices," Venezuelan Economy Minister Rodolfo Marco Torres, a member of the Venezuelan delegation in Riyadh, said in his Twitter account.

Bolivarian president's visit to Saudi kingdom became the first and historic meeting of Maduro with the Government of the country with greater export capacity of oil in the world.

Maduro talked about the market and oil prices with the oil minister of Saudi Arabia, Ali al Naim, a day after he ensured his Iranian counterpart in Tehran, Hassan Rohani, that the Saudi country is a "partner" of Caracas.

In the last OPEC meeting held on November 27, Saudi Arabia blocked calls from the poorest members of the group to cut production to halt the fall in global oil prices.

Click Tag(s) for Related Articles: