Venezuela's oil minister led a delegation in meetings with Saudi Arabian officials, following talks in Iran, in an Opec diplomatic tour as its need for higher oil prices gains urgency.
Suffering from a slow
Qatar is considering funding projects in Venezuela, industry and diplomatic sources said, as the Latin American state lobbies fellow crude producers to help repair the damage done to its economy by plummeting oil revenues.
Venezuela is securing financing from Qatari banks, President Nicolas Maduro said from Doha on Monday, as he seeks to boost his country's coffers amid falling oil prices and a recession.
"We're firming up a financial a
Iran's supreme leader Ayatollah Ali Khamenei told Venezuela's president on Saturday he backed coordinated action between Tehran and Caracas to reverse a rapid fall in global oil prices which he described as a "political ploy hatched
Impromptu talks between Saudi Arabia, fellow Opec member Venezuela and oil powers Russia and Mexico yielded no agreement on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.
Venezuela's Foreign Minister Rafael Ramirez said the Organization of the Petroleum Exporting Countries will increase coordination in the face of the fall in oil prices, the South American government said in a statement, without elaborating
Iran and Venezuela yesterday called on fellow crude producers to shore up prices that have plunged more than 30 per cent to four-year low ahead of an Opec meeting later this month.
Oil prices have fallen to below $79 on abundant s