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Venezuela reiterates support for OPEC’s oil adjustments

Venezuela reiterates support for OPEC’s oil adjustments

Caracas, Jun 1 (Prensa Latina) The sectorial vice president for the Economy, Tareck El Aissami, noted on Tuesday that Venezuela will continue to support the adjustments implemented by the Organization of Petroleum Exporting Countries (OPEC).
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Speaking at the 13th Meeting of the OPEC+ Joint Monitoring Ministerial Committee (members and guests), being held virtually from Vienna, Austria, the minister of Petroleum also reaffirmed Venezuela’s commitment to the economic organization.

‘Venezuela will support initiatives aimed at strengthening gradual production adjustments, in accordance with the spirit of the OPEC+ Declaration of Cooperation, as the only possible mechanism to ensure greater and more lasting stability in the oil market,’ El Aissami said.

On his Twitter account, the high official noted the OPEC’s results, which he described as extraordinary, and assured that they allowed balancing the world energy market in the face of the current challenges.

OPEC and Non-OPEC countries are attending the meeting to evaluate the Committee’s actions to consolidate the world hydrocarbons market on the basis of union and cooperation among nations.

The video conference is headed by the chairman of the Joint Ministerial Monitoring Committee and Minister of Energy, Industries and Mineral Resources of Saudi Arabia, Abdul Aziz Bin Salman Al Saud; and the Co-Chairman of the Committee and Minister of Energy of the Russian Federation, Alexander V. Novak.

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