venezuelas maduro in opec kingpin saudi for talks
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Venezuela's Maduro in OPEC kingpin Saudi for talks

Arab Today, arab today

Arab Today, arab today Venezuela's Maduro in OPEC kingpin Saudi for talks

Venezuelan President Nicolas Maduro
Riyadh - AFP

Venezuelan President Nicolas Maduro has arrived in OPEC's leading oil producer Saudi Arabia, state media reported on Sunday, after he visited Iran to discuss the impact of plummeting crude prices.
Maduro landed on Saturday in Riyadh where Deputy Crown Prince Moqren bin Abdul Aziz received him, the Saudi Press Agency said.
"The Venezuelan president was accompanied by a number of ministers," it said, giving no further details.
Saudi Arabia is the world's largest crude exporter and the biggest producer in the 12-member Organisation of the Petroleum Exporting Countries (OPEC), to which Venezuela and Iran also belong.
While Saudi Arabia says it is financially strong enough to withstand the drop in world oil prices, which fell about 50 percent last year, the budgets of Venezuela and Iran are under strain.
Venezuela has said it is willing to cut production to support prices but OPEC decided in November to maintain an output ceiling of 30 million barrels per day.
The decision intensified the price slide that began in the middle of the year, blamed on softer growth in demand and a stronger United States dollar as well as oversupply.
Iran's President Hassan Rouhani, his oil minister and other top officials have criticised Saudi Arabia for not backing steps to bolster prices.
During his meeting with Maduro on Saturday, Rouhani again appeared to single out Riyadh, in remarks carried on the Iranian government's website.
"Without doubt, cooperation of countries that are on the same line in OPEC can neutralise the plans of some powers who are against OPEC, stabilising a reasonable price for oil in 2015," Rouhani said.
According to the official remarks, Maduro echoed Rouhani, "calling for the cooperation of oil exporting countries to bring back stability."
Saudi Oil Minister Ali al-Naimi has been quoted as saying it is unfair to expect the cartel to reduce output if non-members, who account for most of the world's crude production, do not.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

venezuelas maduro in opec kingpin saudi for talks venezuelas maduro in opec kingpin saudi for talks

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

venezuelas maduro in opec kingpin saudi for talks venezuelas maduro in opec kingpin saudi for talks

 



GMT 02:15 2017 Saturday ,16 December

Theresa May to become Britain’s next PM tomorrow

GMT 15:49 2017 Wednesday ,06 September

Houthi commander was killed in Saraweh Front

GMT 18:57 2017 Saturday ,12 August

Shortlist announced for Midlands Fashion Awards

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 14:04 2017 Thursday ,06 April

Expert: Egypt will achieve economic growth

GMT 13:55 2017 Tuesday ,12 September

Chubb picks Paris as post-Brexit EU headquarters

GMT 19:31 2017 Monday ,16 October

Azhar Imam, Mufti to inaugurate international Fatwa

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday