Venezuela highlights compliance in crude oil production adjustment
Caracas, Sep 17 (Prensa Latina) Venezuela's government highlighted on Thursday compliance, in August, with 101 percent of the crude oil extraction adjustment agreed by the Organization of Petroleum Exporting Countries (OPEC) and other producing States.
Speaking at the meeting of the Ministerial Committee for Joint Monitoring of the OPEC plus mechanism, held by videoconference, the Vice President of Economy Tareck El Aissami reaffirmed Venezuela's commitment to the entity's declaration of cooperation to achieve the stability of the global energy market.
The also minister of Petroleum asserted that OPEC constitutes an important balancing factor in the midst of the humanity's greatest challenge, in reference to the economic impact caused by the Covid-19 pandemic.
He reiterated the commitment of Venezuela to take on the challenges of complementarity and contribute to the exchange of experiences, knowledge and technologies, to contribute to shared growth and sustainable development.
El Aissami recognized the efforts of Saudi Arabia and Russia as presidency and co-presidency of OPEC Plus, and of Algeria as head of the OPEC Conference, for promoting high-level dialogue among oil-producing countries to shore up fuel prices.
'We applaud the excellent results of the cooperative work of OPEC+, which has allowed us to reach a historic level of compliance with the production adjustment commitment in August of 101 percent that contributes to our efforts to rebalance the world market,' the minister tweeted.
'The projections for the recovery of the world economy for 2021 are encouraging,' added the minister, who urged the nations that are members of the organization to continue to be alert to the negative effects of Covid-19 and its impacts on the global energy industry.
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