A Review of the Nigerian Energy Industry

OPEC, non-OPEC countries study Venezuela’s oil summit proposal

Venezuelan President Nicolas Maduro11 September 2015, News Wires – OPEC and non-OPEC countries are studying a Venezuelan proposal for a heads-of-state summit to address low oil prices, the energy minister of Qatar said on Thursday.

“The different countries are studying this proposal and if there was a response from OPEC and outside OPEC then OK,” Qatar’s Mohammed al-Sada said. “But we are in the study phase.”

OPEC member Venezuela has been campaigning for action to address low oil prices, which at below $48 a barrel are less than half their level of June 2014. Sada is the alternate president of OPEC this year.

  • Reuters
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