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Venezuela says oil output deal seems possible

by ChemOrbis Editorial Team - content@chemorbis.com
  • 20/09/2016 (10:09)
According to media reports, Venezuelan President Nicolas Maduro said that OPEC and non-OPEC member countries will try to reach a deal on oil output to stabilize the market.

Maduro further stated at a news conference that after a long meeting with Iran, a deal between OPEC and non-OPEC member countries is close.

OPEC Secretary-General Mohammed Barkindo also said that OPEC members may have an extraordinary meeting for discussions on oil prices if they can reach a consensus at the Algeria meeting which will take place this month.

The rise in Iran’s August crude exports and the increasing crude production in the US continues to raise concerns about excessive supplies.
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