MEXICO CITY (Pakistan Point News / Sputnik - 20th April, 2020) Venezuelan President Nicolas Maduro has had a phone conversation with Russian President Vladimir Putin in which he proposed that the monitoring committee of the OPEC+ deal on oil production cuts convenes for a meeting on May 10 to discuss the progress, the Venezuelan Foreign Ministry said on Monday.
"The leaders have discussed the situation in the oil market and confirmed their complete support of the OPEC+ mechanism which will take effect on May 1. President Maduro has acknowledged Russia's leading role in reaching a consensus among all members and proposed to hold a meeting of the monitoring committee on May 10 to ensure an early assessment of the agreements' effectiveness in the global energy market," the Venezuelan ministry said in a statement, posted on Twitter.
On April 12, the Organization of the Petroleum Exporting Countries (OPEC) and other oil producers agreed to decrease output by 9.7 million barrels per day effective May, following rounds of unsuccessful talks amid growing uncertainty in the energy market.
