Putin and Maduro has determined the price of oil

Vladimir Putin and Nicolas Maduro agreed to the new price of oil. Venezuelan favorite announced that he and the Russian President agreed on a series of initiatives aimed at stabilizing the market.

Venezuelan President Nicolas Maduro told a meeting with Vladimir Putin, which was dedicated to the situation on the oil market. The head of the Republic announced that he and Russian favorite came to an agreement about a series of initiatives aimed at stabilizing rates for black gold.

Nicolas Maduro told the newspaper El Universal that they agreed that the price of a barrel of oil should not be less than 70 dollars. "We need to work out a new strategy to protect the oil market. The fall of oil prices affects not only the oil producers, but also for all investors the industry worldwide, even in the USA," declared Maduro. According to the statement of the President of Venezuela, and Russia, and the OPEC countries agree that the world economy important a solid the oil price, so that was an investment that would ensure the development of the energy sector in the next 50 years.

Recall, Russian President Vladimir Putin in Beijing a number of bilateral meetings on the sidelines of solemn events timed to the 70th anniversary of the end of world war II. For example, Russian favorite spoke with the presidents of Venezuela. In the process of communication Nicolas Maduro offered the Russian colleague Vladimir Putin to discuss measures to stabilize the situation on the oil market.

"We can talk about what we can do to stabilize the oil market and to stabilise prices that would allow us to overcome the protracted situation is characterized by low oil rates. We have good ideas about this topic," said Maduro at a meeting with Putin.

Also, the President of Russia Vladimir Putin on September 4 announced that nothing dramatic in the current level of tariffs for oil there, stock adjustments were expected. "With regard to the volatility of prices for energy resources, commodities our traditional export - yeah, this is the place to be, but it does not depend on us, it depends on the processes that occur in the world economy in General, Asian markets" - quoted Putin RIA Novosti.

"Nothing dramatic here we do not see. Think correction data exchange, they were fully expected", - said Russian favorite. Putin added that tariffs on oil importance is even overproduction of energy resources, access to world markets of new players.

sections: Economics