Impromptu talks between Saudi Arabia, fellow Opec member Venezuela and oil powers Russia and Mexico yielded no agreement on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.
Venezuela's Foreign Minister Rafael Ramirez said the Organization of the Petroleum Exporting Countries will increase coordination in the face of the fall in oil prices, the South American government said in a statement, without elaborating
Iran and Venezuela yesterday called on fellow crude producers to shore up prices that have plunged more than 30 per cent to four-year low ahead of an Opec meeting later this month.
Oil prices have fallen to below $79 on abundant s
The tanker Carabobo carrying Algerian light crude to Venezuela has finished unloading at Jose terminal and has set sail to the Caribbean island of Saint Eustatius, where it will deliver the rest of its content, according to Reuters ve
Venezuela wants Opec to hold an emergency meeting to arrest the slide in oil prices, Foreign Minister Rafael Ramirez said, the first member of the group to formally call for action ahead of next month's gathering.
(Jack Shafer is a Reuters columnist but his opinions are his own.)
If U.S. prosecutors ever get their hands on Edward Snowden, they'll play such a tympanic symphony on his skull he'll wish his hands never touched a compute
Venezuelan President Nicolas Maduro offered asylum to former US intelligence contractor Edward Snowden on Friday in defiance of Washington, which is demanding his arrest for divulging details of secret US spy programs.
Nicolas Maduro, a former bus driver who became Hugo Chavez's protege, was declared the winner of Venezuela's presidential election on Sunday but the opposition refused to accept the result and demanded a recount of all the votes.
At least two dozen heads of state were due to attend Hugo Chavez's funeral on Friday during an outpouring of grief for the charismatic but divisive Venezuelan leader who changed the face of politics in South America.
Venezuela's oil industry was operating normally on Tuesday and no disruption was expected following the death of President Hugo Chavez, state oil company PDVSA said, calling for calm in the Opec nation.
The death of the social