“The OPEC+ has proven its relevance, usefulness and strength in a first phase, enabling the stabilization of the world oil market,” said the President of the Bolivarian Republic of Venezuela, Nicolás Maduro, at a meeting with the Russia-Venezuela High-Level Intergovernmental Commission, held at the Miraflores Presidential Palace.
Maduro highlighted that thanks to the Organization of the Petroleum Exporting Countries (OPEC) and Non-OPEC oil producing, exporting countries, “proposals have been developed.”
“In mid-2000 we managed to stabilize oil prices, so the economy started to react positively and the world banking system using petrodollars started to have flows and movements,” he said.
The Venezuelan president pointed out that by late 2020, the Venezuelan oil market “improved prices further,” and added that meetings will be held in the following days to continue stabilizing the market and guarantee investments to replenish production.
President Maduro deemed the Commission’s meeting productive, and said: “We are on the right path. The Great Russia and the Heroic Homeland of Venezuela are demonstrating again that a better world is emerging, that a multipolar world already exists.”
In this regard, President Maduro announced that the High-Level Commission will meet again by late next semester to assess the evolution of the pandemic, among other issues of mutual interest for the two countries.