Saudi, Venezuela talk of OPEC, non-OPEC cooperation to stabilize oil market

Venezuela's Oil Minister Eulogio Del Pino (L) and Saudi Arabia's Oil Minister Ali al-Naimi smile while they talk during a bilateral meeting at the Summit of South American-Arab Countries in Riyadh. (File: Reuter

Saudi Arabia's oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilize the global oil market with his Venezuelan counterpart on Sunday, state news agency SPA reported on Sunday.

Venezula's Oil Minister Eulogio Del Pino is on a tour of oil producers to lobby for action to prop up prices.

"It was a successful meeting and (conducted) in a positive atmosphere," SPA cited Naimi as saying.

Both minister discussed the outcome of del Pino's meetings with other officials focused on "the cooperation of those countries to stabilize the international oil market," and the importance of the continuation of such consultations, SPA added.


Last Update: Wednesday, 20 May 2020 KSA 13:57 - GMT 10:57