Al-Naimi talks oil prices with Venezuela

07/02/2016 Argaam

Saudi Arabia's oil minister Ali Al-Naimi discussed on Sunday with his Venezuelan counterpart cooperation between members of the Organization of the Petroleum Exporting Countries (OPEC) and other producers to stabilize the global oil market, state-owned Saudi Press Agency (SPA) reported.

 

No further details were mentioned about oil output and price support.

 

Venezuela, which has seen its economy shrink about 7.1 percent since Q3-2015 due to slumping oil prices, has urged OPEC and non-OPEC producers to cut production in order to help prop up prices.

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