28.05.2013 - Venezuela open to an OPEC output cut
Venezuela will support holding the Organization of the Petroleum Exporting Countries' production ceiling but is open to a reduction if members find that it would help maintain the South American country's base price of $100 a barrel at the cartel's meeting this week in Vienna, Oil Minister Rafael Ramirez said Monday. "We have an agreed level of production of 30 million barrels a day which we think can be maintained to keep the price at $100 per barrel. If some view comes out of the discussions that this could affect or lower the price, we are for a cut in production," Mr. Ramirez told reporters at the Caracas headquarters of state energy monopoly Petroleos de Venezuela SA.........................................Full Article: Source
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