Venezuelan President Nicolas Maduro during his weekly Con Maduro+ program. Photo: Venezuela's Presidential Press.
Venezuelan President Nicolás Maduro announced he sent a letter to OPEC+ member countries urging them to adjust and fine-tune official coordination mechanisms to establish a strategy guaranteeing stability, investment recovery, profits for oil companies, and fairer, better oil prices.
This Monday, June 2, during his weekly Con Maduro+ program, the president said that Venezuela reaffirms its commitment to consolidating the unity and cohesion of the OPEC+ countries.
“In that letter, I ask that we visualize the second half of this year, and the two years to come, based on having a strategy that includes stability, investment replenishment, profits, and fairer prices than we have now,” the head of state revealed during the broadcast of his 81st Con Maduro+ program.
The president also stated Venezuelan oil production will continue despite sanctions and blockades imposed by imperialist powers.
In this regard, he celebrated the 8.5% increase in Venezuelan oil revenue during the first four months of the year, emphasizing the hydrocarbon sector continues thriving and, like other productive sectors, operates without needing licenses from other nations.
“Venezuelan oil will continue to grow on its own, without depending on anyone,” said President Maduro. “Much less on licenses.”
On Thursday, May 29, Vice President and Minister of Hydrocarbons Delcy RodrĂguez said that facing disruptions in the international economy, Venezuela reaffirms its commitment to continue strengthening the unity and cohesion of OPEC+ countries.
RodrĂguez participated in the 60th Meeting of the OPEC Joint Ministerial Monitoring Committee, as well as the 39th OPEC and Non-OPEC Ministerial Meeting and the 191st Meeting of the OPEC Ministerial Conference, where “the fundamentals of the oil market and compliance with production adjustments under the OPEC+ Declaration of Cooperation were reviewed.”
Subsequently, the Declaration of Cooperation for Oil Market Stability was published on the Organization of the Petroleum Exporting Countries website. In this regard, all OPEC and non-OPEC member countries reaffirmed the overall crude oil production level, as agreed at the 38th OPEC and non-OPEC Ministerial Meeting, until December 31, 2026.
Translation: Orinoco Tribune
OT/JRE/SL
