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Kuwait's oil minister: the expert meeting will discuss Venezuela's oil price range proposal

Kuwait's oil minister: the expert meeting will discuss Venezuela's oil price range proposal

October 14, 2015

[China paint information] Kuwait's Oil Minister Ali al omair said on Tuesday (October 13), Later this month, we will discuss the oil price range initiative proposed by Venezuela at the expert technical meeting where we can try to use some basic knowledge of high molecular materials to explain the unique phenomena of high molecular materials encountered in our lives in the oil of the organization of Petroleum Exporting Countries (OPEC) member countries and non OPEC oil producing countries

"there is no decision at present. We will discuss the details of this initiative and decide whether to agree or not based on the results," Ali al omair pointed out

Venezuelan oil minister Ramirez said recently that this plan will reactivate the old method of gradually reducing production to control oil prices. The bottom line of oil prices is set at $70 a barrel, and then the target is set at $100. The proposal will be submitted at the OPEC technical advisory meeting on October 21

opec predicted on Monday that the global demand for OPEC crude oil in 2016 would be higher than previously expected, because the organization's strategy of letting oil prices fall had an impact on the supply of oil and other competitors in the US shale Expo, easing the global oversupply situation

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