The Sector Vice-president of the Economic Area and People’s Power Minister for Petroleum, Tareck El Aissami, ratified this Tuesday that “Venezuela supports the extension of the production adjustment level of 7.7 MMBD for a period of three months.”
This measure, proposed during the 24th Meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC), “will contain the impacts caused by the COVID-19 pandemic in the world oil market”, he wrote on his social network account. Twitter @Tareckpsuv.
The Sector Vice-president El Aissami said that the OPEC+ Cooperation Declaration, “has been the most effective mechanism for the protection and stabilization of the energy market and the economy in general terms. Under the leadership and vision of President Nicolás Maduro Moros, Venezuela has been the protagonist of this effort.”
The meeting is chaired by the President of the OPEC+ JMMC, His Royal Highness Abdulaziz Bin Salmán Al Saud and the Co-Chair of the Ministerial Committee for Joint Monitoring and Vice-president of Government for Energy Affairs, H.E. Alexander Novak.
Also present at this meeting was the Secretary General of OPEC, Mohammad Barkindo and the President of the OPEC 2020 Conference and Minister of Energy of Algeria, H.E. Abdelmadjid Attar.
Participating in the meeting for the OPEC countries are delegates from Saudi Arabia, Algeria, the United Arab Emirates, Iraq, Kuwait, Nigeria, Venezuela; and for the Non-OPEC countries: Kazakhstan and Russia.