VLADIVOSTOK (Sputnik) – Russia and Venezuela have agreed to continue consultations with international oil producers on the stabilization of the situation on oil markets, Russian Energy Minister Alexander Novak told journalists on Friday.
"[There are] agreements on the continuation of talks on this issue between OPEC [Organization of the Petroleum Exporting Countries] states and non-OPEC countries," Novak said, asked about Venezuelan President Nicolas Maduro’s proposition to discuss the stabilization of oil markets with Russian President Vladimir Putin.
Asked whether other countries have submitted similar requests to Russia, Novak said that Venezuela has been the only one so far.
Russia and Venezuela have agreed to continue consultations with international oil producers on the stabilization of the situation on oil markets, Russian Energy Minister Alexander Novak told journalists on Friday.
Global oil prices have significantly dropped compared to those seen in the summer of 2014, falling from $100 to about $50 per barrel for Brent crude, primarily as a result of worldwide oversupply.
The oil-dependent economies of Venezuela and Russia have been hit by the plummeting prices.
