Venezuela Says OPEC Output Shouldn’t Grow
December 4, 2007
The Organization of Petroleum Exporting Countries shouldn’t increase petroleum output in the near future, Venezuelan Oil Minister Rafael Ramirez said Tuesday.
Ramirez, speaking ahead of a meeting of the oil cartel in Abu Dhabi, United Arab Emirates, reaffirmed Venezuela’s long-standing opinion production levels should not increase despite oil prices reaching a record high, Globovision TV reported.
Venezuelan energy officials have made several controversial suggestions in recent months regarding the future of OPEC including calling for oil to be traded in a currency other than U.S. dollars.