Vienna Oil Summit Fails to Adopt Specific Measures

teleSUR English
teleSUR English
  • 9 years ago
A rare joint summit of OPEC and non-OPEC oil producing countries held in Vienna agreed to continue discussions on how to stabilize the world oil market. However, the meeting failed to adopt specific measures designed to cut product and thereby boost prices. On Tuesday, President Nicolas Maduro said that Venezuela, along with countries such as Iran, Russia, Bolivia would seek an agreement to reduce production in order to increase prices to US$88 per barrel, up from the current US$45. teleSUR

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