Iranian president tells Venezuela essential to raise oil prices

Iranian president tells Venezuela essential to raise oil prices
 

Iran's President Hassan Rouhani told his Venezuelan counterpart Nicolás Maduro in a phone call that it was essential for oil producing countries to take a decision to raise the price of oil and stabilise the market, Iranian state news agency IRNA said.
Iran and Venezuela are both members of the Organization of the Petroleum Exporting Countries (OPEC) which agreed at an informal meeting in Algeria last week on modest oil output cuts in the first such deal since 2008.
How much oil each country will produce is to be decided at the next formal OPEC meeting in November, when an invitation to... read more

 
3 October 2016 in Business, Views: 38
Source: Reuters
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