Rafael Ramirez, Venezuela Energy Minister, confirmed that OPEC will keep an eye on the impact of oil price after US economic slowdown. The move will ensure if US economic turmoil will not affect the price flow of oil, as some economists believe that the US economic slowdown will help reduce the price and further lower oil demand.
The minister, Rafael Ramirez, also said OPEC should not agree to hike its output at the
meeting in Vienna on Feb. 1. Turmoil in world markets meant there was too much 
uncertainty over where the world's economies were heading for the export group to be able to take a clear decision, he said.
"Nevertheless, in the next meeting, OPEC will evaluate the possible (U.S.) impact on the energy market," Ramirez told reporters.
Venezuela is a price hawk in OPEC and opposes the United States on everything from free trade to democracy despite being its No. 4 supplier of crude.
0 comments:
Post a Comment