USD 92.5919

+0.02

EUR 100.2704

-0.14

Brent 86.37

+0.68

Natural gas 1.73

+0.01

881

Venezuela presides over OPEC in 2018

Venezuela has assumed the rotating presidency of the OPEC.

Venezuela presides over OPEC in 2018


Venezuela has assumed the rotating presidency of the OPEC, Venezuelan Oil Minister Manuel Quevedo said on January 20, 2018.

«Venezuela assumes the rotating presidency of OPEC in 2018,» Manuel Quevedo, who is also president of the state oil company PDVSA, posted to Twitter.

Quevedo made the announcement from Oman, where OPEC is holding a ministerial meeting to monitor oil-producing countries' compliance with an agreement to cap output to shore up prices.

According to the PDVSA, the meeting «aims to unite efforts to speed up the stabilization of the global oil market,» which saw crude prices plummet in 2014. They have since climbed back up to about $63 a barrel.

The monitoring committee is comprised of OPEC members Algeria, Kuwait and Venezuela and non-OPEC oil producers Russia and Oman.


Follow us on Facebook
Advertising at neftegaz.ru

Subscribe to our newsletter

of the best materials Neftegaz.RU

* Incorrect E-Mail Address

By clicking the "Subscribe" button I accept the "Agreement on the processing of personal data"


Advertising at neftegaz.ru