Venezuela: OPEC to seek to maintain oil prices at 70 U.S. dollars
Xinhua Caracas, May 24 Xinhua Finance Minister Ali Rodriguez of Venezuela on the 24th said that the Organization of Petroleum Exporting Countries (OPEC) sought to maintain oil prices around 70 U.S. dollars per barrel in order to ensure a reasonable trade Added the level of investment. Rodriguez said: “The world is now occurring is that the field of oil exploration and refining investments dropped significantly in the long run this will lead to rising oil prices again.”
Venezuela’s President Urges Brazil to join OPEC
Venezuelan President Chavez on March 31 said that Brazil and other independent oil-producing countries joining in the Organization of Petroleum Exporting Countries (OPEC) would bring this oil cartel with a new vitality.
Chavez made this remarks at Arab and South American countries’ leaders summit in the Qatari capital Doha. He said that nine members of 12 OPEC member states have attended the summit in Doha.
Chavez later said he hoped Brazil soon join the OPEC.
Russian Deputy Prime Minister says that Russia does not intend to join OPEC
April 1 news: Russian Deputy Prime Minister on March 31 made it clear that Russia does not intend to become the member of Organization of Petroleum Exporting Countries (OPEC), because the Russian government should not directly interfere in business activities of private oil companies.
According to Russia’s “Herald” reported that the Deputy Prime Minister also said that for the maintenance of the common interests of oil prices, Russia will coordinate action with OPEC, if oil prices again fell below 40 U.S. dollars per barrel, Russian oil companies may significantly reduce their production. Deputy Prime Minister pointed out that Russia hopes to maintain oil prices per barrel at 60 to 100 U.S. dollars level.
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