“We celebrate the historic agreement reached during the 19th OPEC+ Ministerial Meeting, which is a sample of the strategic vision in the long term, sending clear and strong signals of our power and commitment to the oil market stability and the world’s economic development”, pointed out Mr. Tareck El Aissami, Sector Economy Vice-president, on his Twitter account @TareckPSUV.
The 19th OPEPC and NON-OPEC Ministerial Meeting was held via videoconference last Sunday, headed by His Royal Highness Prince Abdul Aziz Bin Salman, Minister of Energy to Saudi Arabia and Co-president Alexander Novak, vice-Prime Minister from Russia; Mr. Diamantino Pedro Azevedo, president and minister of Mineral Resources and Oil from Angola, and Mr. Mohammad Barkindo, Secretary General to OPEC, in order to foster oil supply during the months to come.
Several agreements were reached during the meeting, being the most relevant ones the reaffirmation of the Declaration of Cooperation framework; production increase for the rest of year 2021 and the progressive elimination of the production adjustment of 5.8 millions of barrels a day; continuous evaluation of market conditions and possible production adjustments, according to an statement issued by OPEC in its online portal.
Likewise, Vice-president El Aissami said that “the OPEC+ reaffirms its clear position upon the basis of a steady and balanced oil market, to the interest of producers, consumers and the world economy. VENEZUELA shall continue to stand up for policies aimed at guarantee collective well-being”.
Moreover, Mr. El Asissami stated that “Venezuela reaffirms its commitment to the historic agreement to guarantee a sustainable oil market stability in the long term, during the 19th OPEC+ Ministerial Meeting
The 20th OPEC and NON-OPEC Ministerial meeting will be held on September 1st, 2021.