President Maduro celebrates OPEC+ agreement to stabilize the oil market

The President of the Republic, Nicolás Maduro, praised the initial agreement reached between the members of the Organization of Petroleum Exporting Countries (OPEC) and other producing countries for the stabilization of crude oil prices. In a message broadcast through his account on the Twitter social network, @NicolasMaduro, he said that the consensus will allow the recovery of the world economy and finances. “I congratulate all the delegations for their great capacity for dialogue and understanding”, said the Dignitary. The agreement, endorsed by 23 countries, establishes to reduce oil production by 10 million barrels per day in a two-month period, starting in May. According to a statement issued by the Russian Energy Minister, Alexánder Nóvak, during the next six months production will be partially restored and the reduction will be 8 million barrels per day. The pact estimates the total reduction of 6 million barrels per day for the participating countries in 2021, informs RT. Venezuela, represented by the People’s Power Minister for Oil, Manuel Quevedo, welcomed the initiative presented by Saudi Arabia and Russia that seeks to sustain oil prices, affected by the Covid-19 pandemic.