Venezuela, Kuwait assess strategies to increase oil prices

Venezuelan Foreign Minister Delcy Rodríguez also met with the Minister of Petroleum of Saudi Arabia

The Venezuelan Minister of Foreign Affairs, Delcy Rodríguez, and Kuwait's Minister of Petroleum, Al Omair, met on Sunday to ponder strategies to stabilize dwindling oil prices.

Later, Minister Rodríguez commented that she had also met with Saudi Arabian Minister of Petroleum, Al Naimi, to review proposals to strengthen the oil market, harmed by the increase in oil production in countries such as the United States, state-run news agency AVN reported.

Seeking agreements among oil nations, Venezuelan President Nicolás Maduro went on an international tour including China, Russia, and several Member States of the Organization of Petroleum Exporting Countries (OPEC), with a view to stabilizing oil prices and entering into strategic alliances.

Source: http://www.eluniversal.com/

Putin, Maduro to discuss oil prices on Wednesday

President Maduro's unannounced visit to Russia comes after his visit to Algeria, Iran, and Saudi Arabia, against the backdrop of an international tour focused on the oil crisis

Venezuelan President Nicolás Maduro will visit Russia once again on Wednesday and meet with his Russian counterpart Vladimir Putin. Top in their agenda are plummeting oil prices, the Kremlin reported.

"Vladimir Putin will meet with Venezuelan President Nicolás Maduro (...) to talk about (....) the progress of bilateral cooperation, including the fulfillment of large bilateral projects in the energy, agriculture, and industrial areas," the Kremlin informed in a communiqué, AFP quoted.

President Maduro's unannounced visit to Russia comes after his visit to Algeria, Iran, and Saudi Arabia, against the backdrop of an international tour focused on the oil crisis.

Maduro's international tour began on January 5, and has included a number of OPEC and non-OPEC countries, EFE reported.

The price of the Venezuelan oil basket hit USD 42.44 last week, while the price of the OPEC basket stands at USD 41.50.

Source: http://www.eluniversal.com/