MEXICO CITY (Pakistan Point News / Sputnik - 15th September, 2022) Venezuelan President Nicolas Maduro, at a meeting with Organization of Petroleum Exporting Countries (OPEC) Secretary General Haitham Al Ghais in Caracas, urged OPEC+ to seek to establish a "fair" oil price at $100 per barrel.
"In the face of forecasts about the situation in Europe and the West, with the arrival of fall and winter, we could send a powerful message of stability and balance. And direct all appropriate actions to ensure that the price of oil is kept in a fair, necessary and balanced way at around $100 per barrel," Maduro said.
According to the Venezuelan leader, the current balance of supply, production, global supply and demand for oil says that oil should cost $100 per barrel. The alliance's actions, despite "the worst manifestations of Western irrationality," made it possible to avoid a jump in prices to $150 per barrel or more, he said.
