Ukrianian court puts on hold lawsuit against ban on Russian social networksWorld May 28, 6:10
Russia’s Lasitskene wins high jump in Diamond League event in Eugene, USSport May 28, 4:59
Havana Airport gets Russian-made air traffic control systemsWorld May 28, 4:16
Guests of FIFA 2018 World Cup sure to get warm welcome in Russia — LavrovSport May 28, 2:25
Kantemir Balagov’s "Closeness" gets Cannes Festival’s International Critics’ PrizeSociety & Culture May 28, 1:03
Anti-church laws in Ukraine may cause religious strife — Ukrainian Orthodox ChurchWorld May 28, 0:22
Russia’s national football team absolutely clear of doping — doctorSport May 28, 0:14
Russian cyclist Zakarin finishes second in Giro d’Italia Stage 20Sport May 27, 22:27
Putin, Erdogan agree to develop coordination of efforts for settlement in SyriaRussian Politics & Diplomacy May 27, 19:29
CARACAS, November 18. /TASS/. Venezuelan President Nicolas Maduro on Monday voiced confidence in a forthcoming recovery of global crude oil prices from the current slide.
As he addressed the opening ceremony of the First Congress of Working Class People, he said Venezuela was not going to turn its face to the wall in this situation and it would organize a special conference of oil producing countries for handling the price fall.
Maduro also said the Venezuelan government would examine the ways of compensating for the shortfall of oil revenues.
He recalled that Foreign Minister Rafael Ramirez was visiting Russia in the final leg of a tour of oil producing countries.
In the course of the trip, Ramirez is coordinating efforts to organize a meeting of representatives of all the producing countries, Opec member and nonaffiliated producers likewise, in order to take steps in defence of oil prices that have dropped 35% since the beginning of the year.
The international conference on world oil market development that is co-organized by Russia and Venezuela at the initiative of the Venezuelan government is likely to be held November 25 in Vienna. It will precede an Opec summit, also due there November 27.
Official data says Venezuela is producing 3 million barrels of oil a day at the moment. Of that amount, as much as 2.5 million barrels is exported, mostly to the U.S. and China, which makes Venezuela the fifth largest oil exporter in the world.
By the end of the previous week, the price of Venezuelan oil fell to $70 per barrel. Experts point out the protracted character of the slide - the price is declining for the tenth week in a row.