President Maduro: Economic recovery will depend on OPEC + agreement

PDVSA statement (translated from Spanish by an automated system)

Caracas, March 31, 2020.- This Monday, after holding a meeting with the Russian ambassador to Venezuela, the President of the Republic, Nicolás Maduro stressed the importance of the agreements that arise from the Organization of Petroleum Exporting Countries ( OPEC) and its allies (OPEC +), as well as the need to advance the rapprochement between that organization, Russia and Saudi Arabia.

The National Prime Minister explained: “I have come to the Miraflores Palace to receive the new credentials of the new Russian ambassador, Sergey Melik-Bagdasarov, who has sent me a direct message from President Vladimir Putin about all of Russia's solidarity with Venezuela and with the Bolivarian Government, the ratification of the alliance and of the deep and indestructible friendship between both nations ”.

In this sense, the Head of State detailed part of the points addressed during the meeting. “We were talking about all the world geopolitics. I asked him about the need to resume the dialogues within the framework of OPEC + in order to move towards agreements and goals that can be met that allow for the gradual, progressive, but sustained recovery of the oil market and oil prices. ”

"From 2016 to 2020, it was shown that OPEC +, OPEC plus Russia and other producing countries were the basis of market stability, prices and global financial and economic stability, that is a gigantic truth. Post-pandemic economic and financial recovery will depend on the OPEC + agreement, which will provide stability and allow the planning of the stock markets, the market and the real economy, "emphasized Maduro.

Finally, the President highlighted the important role of OPEC + and described it as one of the central columns to advance on the geopolitical, geoeconomic and geoenergetic issue.