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Venezuela’s oil minister visits Moscow for oil agreement talks

October 25, 2016, 9:08 UTC+3 MEXICO CITY
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MEXICO CITY, October 25. /TASS/. Venezuelan Oil Minister, Eulogio del Pino, is in Moscow with a working visit, Venezuela’s President Nicolas Maduro said.

Radio Nacional de Venezuela quotes Maduro as saying that del Pino is holding talks in Moscow aimed at ironing out the details of "a necessary agreement" between oil producing countries, both within and outside the Organization of the Petroleum Exporting Countries (OPEC). During his brief visit abroad that began on October 21, Maduro visited Azerbaijan, Iran, Qatar and Saudi Arabia. He described this trip as "very successful," adding that it helped "strengthen the agreement reached in Algeria." 

Venezuelan Oil Minister, Eulogio del Pino, is arriving in Moscow later on Tuesday, a source in Venezuela’s Embassy in Russia informed TASS.

"He is arriving at 14:00 Moscow Time," the source said. "He is expected to hold a news conference at Vnukovo-3 airport at that time."

During their informal meeting within the 15th International Energy Forum in Algiers on September 28, the OPEC member-countries were able to reach an agreement on limiting oil production to a range of 32.5-33.0 million barrels per day. On October 28-29 Vienna will host the first meeting of the OPEC special committee for the implementation of the Algiers agreements. It is expected that the October 29 meeting will be attended by countries that are not OPEC members but that have joined the consultations on freezing oil production, among them Russia. 

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