OPEC+ reaches historic agreement to stabilize the oil market at the 14th Ministerial Meeting - MPPRE

OPEC+ reaches historic agreement to stabilize the oil market at the 14th Ministerial Meeting

“Extraordinary agreement from the OPEC+ Ministerial meeting! With the decision we have adopted, we will guarantee the stability of the oil market”, announced this Thursday the Sector Vice-president for the Economic Area and People’s Power Minister for Petroleum, Tareck El Aissami, after his participation in the 14th OPEC+ Ministerial Meeting.

Through his account on the social network Twitter @TareckPSUV, El Aissami stressed that once again “the strength of this virtuous mechanism and the solid leadership of OPEC+ will favor the post-pandemic recovery.”

During his speech, the Sector Vice-president stated that the OPEC+ mechanism:

“has allowed us to overcome the difficult situation that the Covid-19 pandemic has caused and Venezuela played its leading role in seeking the stability of the world energy market and there we are at the forefront, as always, riding with the leadership of the Bolivarian Revolution, of our president Maduro and together with the Venezuelan people.”

During the videoconference, Minister El Aissami participated, on behalf of Venezuela, in the 14th OPEC and Non-OPEC Ministerial Meeting (OPEC+), which was held in Vienna, Austria, and was chaired by OPEC Secretary General Mohammad Barkindo, together with the president of RMONO-OPEC+, Prince Abdul Aziz Bin Salmán Al Saud, Minister of Energy, Industries and Mineral Resources of Saudi Arabia.

Likewise, the meeting was attended by the Heads of delegation of the OPEC countries: Angola, Saudi Arabia, Algeria, United Arab Emirates, Gabon, Equatorial Guinea, Iraq, Iran, Kuwait, Libya, Nigeria and Venezuela.

Meanwhile, for the NON-OPEC countries, the Heads of delegation from Azerbaijan, Bahrain, Brunei Darussalan, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan and South Sudan were present.