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Wednesday 29 October 2008, San José, Costa
Rica
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Chavez:
Venezuela Will
Support Any
Additional
Output Cut By
OPEC
QUITO -
Venezuela will
support any
additional OPEC
production cut
to stabilize
crude oil
prices, visiting
Venezuelan
President Hugo
Chavez said here
Tuesday.
Chavez made the
remarks
following a
meeting with
Ecuadoran
President Rafael
Correa.
"We would agree
with new
production cuts
until the price
stabilizes. If
we had to cut
another million
barrels per day
we would not
have a problem,"
Chavez told
reporters.
The Organization
of Petroleum
Exporting
Countries (OPEC)
agreed in Vienna
last Friday to
cut oil output
by 1.5 million
barrels a day
with an aim to
address the
slide of oil
prices over past
months.
OPEC Secretary
General Abdalla
Salem El-Badri
said Tuesday in
London that the
organization
could hold a new
emergency
meeting before
its next
scheduled
session in
December if the
problem
continued.
New York's main
contract, light
sweet crude for
December
delivery closed
at 62.73 U.S.
dollars a barrel
Tuesday, while
in London, Brent
North Sea crude
for December
settled at 60.29
dollars.
Oil-exporters
Venezuela and
Ecuador have
both suffered
from the slide
in prices. |
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