Venezuela expects to increase oil prices

Венесуэла прогнозирует рост цен на нефть

In the country are counting on 50-60 dollars per barrel.

Venezuela expects to increase the average price of a barrel of oil to 50-60 dollars after the decision on the reduction of oil production. This was stated by the Minister of oil of Venezuela, Eulochio del Pino.

“We think that very soon the price will be between 50 and 60 dollars, to compare the current year when the average price was 34 dollars per barrel, from last year, when the price was $ 44,” said del Pino channel Telesur from Vienna.

He also hopes that by the end of the year the price level of oil will be “a little more equitable in comparison with what was throughout the year.”

On the eve of the non-OPEC countries agreed to reduce their production a total of 558 thousand barrels per day, including Russia – 300 thousand barrels. The reduction will start in January, the agreement for the first six months with the possibility of extension.

We will remind, OPEC at a meeting on 30 November agreed to cut its production by 1.2 million barrels per day – up to 32.5 million barrels – and confirmed the plans.

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According to the materials:

RIA Novosti
Source