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Saudis Hold “Successful” Oil Talks With Venezuela

Saudis Hold “Successful” Oil Talks With VenezuelaSaudis Hold “Successful” Oil Talks With Venezuela

Saudi Arabian Oil Minister Ali al-Naimi said on Sunday he held “successful” talks with his Venezuelan counterpart about ways of cooperating to stabilize the crude market, without saying what steps producers should take to shore up prices.

The two ministers, who met on Sunday in Riyadh, discussed Venezuelan Oil Minister Eulogio Del Pino’s recent discussions with other crude producers and the results of those meetings that seek cooperation among suppliers to bring stability to the market, the Saudi Ministry said in a statement, Bloomberg reported.

 “I’m very happy to meet and consult with my colleague Venezuelan Oil Minister Eulogio Del Pino,” Naimi said in the statement. “It was a successful meeting in a positive atmosphere,” he said, without elaborating.

Del Pino met with al-Naimi after visiting Russia, Iran, Qatar and Oman on a tour to drum up support for Venezuela’s attempt to buttress oil prices.

Financialtribune.com