Newsletter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Chinese leadership
- Selected Works of Deng Xiaoping

Home >> Business
UPDATED: 14:01, May 10, 2005
Venezuelan FM proposes reinstating oil band mechanism
font size    

Venezuelan Foreign Minister Ali Rodriguez said Monday that an oil price band mechanism should be reinstated as the Organization of Petroleum Exporting Countries (OPEC) almost reached its production ceiling.

Tensions between major oil producing countries and consuming nations have risen to the highest since the oil crisis in the 1970s, Rodriguez said.

He was here attending a foreign ministers' meeting ahead of the South American-Arab Summit.

Rodriguez said that major petroleum consuming and producing nations should reach an agreement on the price band to end sharp changes in oil prices.

The price band between 22 and 28 dollars per barrel was adopted in the year 2000, but was largely ignored in 2004 and was suspended last January.

Venezuela, a founding member of the OPEC, is the world's fifth oil exporter.


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this


   Recommendation
- China Forum
- PD Newsletter
- People's Comment
- Most Popular
 Related News
- Venezuela rules out suspending oil supply to US

- US expects Venezuela to keep supplying oil: official

Online marketplace of Manufacturers & Wholesalers

Copyright by People's Daily Online, all rights reserved