International balance of forces in Syria after Raqqa’s liberation unclear yet — expertMilitary & Defense October 20, 21:05
Russia to resume import of aubergines, pomegranates from Turkey since October 30Business & Economy October 20, 20:18
International station to orbit Moon at 70,000 km distance from EarthScience & Space October 20, 20:09
US indulging in lies to have UN-OPCW mission’s mandate extended — Foreign MinistryRussian Politics & Diplomacy October 20, 19:31
This week in photos: Diplomatic kiss, Paddington's dance and French bank in flamesSociety & Culture October 20, 17:46
Scientific team unlocks secret to supercaps’ vast capacity as ‘the battery of the future’Science & Space October 20, 17:40
Russian economy’s losses from cyber threats may surge fourfold in two yearsBusiness & Economy October 20, 16:52
Nornickel to begin construction of golf field in Siberia in 2018Business & Economy October 20, 16:10
Washington will have to put up with North Korea's nuclear status — PyongyangWorld October 20, 15:21
In his speech on TV on Wednesday, the leader of the South American OPEC member said Washington is “seeking to impose its energy control and cause an economic damage to Russia and also Venezuela.”
The US is extracting oil by a “violent method destroying the planet,” Maduro said, adding that the technologies of hydraulic fracturing or fracking are more costly than in Venezuela.
“Experts estimate that the extraction of one barrel costs over $100 or even more,” Maduro said.The Venezuelan leader said the US “has flooded the global market with its oil,” that’s why the Organization of the Petroleum Exporting Countries (OPEC) will hold an emergency meeting to “take measures needed to regulate the oil market.”
OPEC, the supplier of about 40% of the world's crude oil, “has repeatedly proved its efficiency in any circumstances and is again showing its might restored thanks to [late Venezuelan leader] Hugo Chavez,” he said.
Late last week the average price of barrel of Venezuelan oil stood at $77.65, a $5 decrease compared with the previous week. Experts say the oil prices have been falling for a sixth week in a row.
Today Venezuela produces 3 million barrels of oil a day, according to official data, with 2.5 million barrels sent for export, mainly to the US and China, making it the world’s fifth major oil exporter.
The South American country has the world’s largest proven oil reserves, estimated at almost 300 billion barrels. Most oil reserves are located in the Orinoco Belt.