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Venezuela May Call for OPEC Meeting to Stop Oil Price Fall
Venezuelan President Hugo Chavez said Thursday, December 28, that he would call for a special meeting of the Organization of Petroleum Exporting Countries (OPEC) to prevent the crude oil price from further sliding.
If the price continues to decrease, Chavez said he is prepared to go to the Middle East and discuss with OPEC leaders the convening of a special meeting.
Chavez made the remarks after he swore in Alvaro Silva Galderon as the country's new energy minister.
"We are playing a clean game in our handling of pricing policy . .. (but) there are some countries which conceal inventories, which exercise downward pressure (on price) with an immense power," said the president.
Venezuela does not and will not change its energy policy, which has successfully protected the Central American nation's interests, Chavez stressed.
Chavez said he was concerned about the sharp crude oil price falls this month. Last week, Venezuela's export price fell to US$21.26, the lowest level in 11 months. Venezuela is the world's third largest oil producer.
Silva Calderon, 71, who has been deputy energy minister under Ali Rodriguez, said that he would continue Rodriguez's policy and try to maintain crude oil prices.
Rodriguez, currently president of OPEC, is to assume the post of secretary general of the organization on January 1.
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