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Wednesday, January 21, 2015
Venezuela’s president, Nicolas Madura,visited Algeria with oil prices at the top of the agenda last week. Before meeting with his Algerian counterpart, Abdelaziz Bouteflika, Maduro told Algerian state news agency APS that the talks would “focus on OPEC and the importance of guaranteeing the stability of oil prices.” He also noted the importance of avoiding using oil prices as an economic and geopolitical weapon, which one OPEC producer has been said to be doing in regards to the shale industry out of the US. The Venezuelan president’s international trip included visits to Saudi Arabia and Iran in attempt to change minds in the cartel.
Venezuela was not only interested in swaying OPEC minds, Maduro is set to hold talks with one of the world’s largest non-OPEC producer Russia. He will meet with Russian leader Vladimir Putin and discuss the current oil crisis. According to Russian Energy Minister Alexander Novak, prices will be “one of the key points for discussion” when Maduro arrives in Russia. “Of course, today’s situation with prices and crude oil markets is being discussed one way or another at all levels,” Novak told Russia’s Tass news agency.
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