Maduro began the battle for oil prices

The Venezuelan President announced the beginning of the battle for oil the cost. Nicolas Maduro has offered to convene a summit of the countries - exporters of oil to develop a mechanism of control.

Venezuelan President Nicolas Maduro, speaking at a gala event in Caracas, dedicated to the 55th anniversary of the formation of OPEC, announced the beginning of the fight for the stabilization of oil tariffs. For the effectiveness of the battle of the head of the Republic has proposed to convene a summit of the countries - exporters of oil as the OPEC and independent, to develop a mechanism to control the production of black gold.

"We are announcing the beginning of the repeated battle for oil prices, about the continuing efforts to build a new Alliance, need for economy and the population of the earth. The current situation with tariffs for oil has on investment of our world, our closest years" - quoted by El Universal, Maduro.

The Venezuelan leader said that the situation with the oil tariffs affects global investments and the state of things in the foreseeable years. According to his statement, from rates of 40 dollars per barrel affects all oil-producing powers. Not to mention the fact that this price of black gold destroys shale production in the United States.

In order to correct the situation, Maduro proposed to develop and to agree on the basic characteristics of oil rates for regions of the world. The proposal he is preparing for discussion both within OPEC and with the countries - oil producers outside the cartel. The President of Venezuela and other ideas, namely to maintain the cost for minerals to enter the market with new varieties, mixing light oil African and Venezuelan heavy.

Remember that Venezuela is part of OPEC members, most suffer from an excess of black gold on the world market. After the collapse in oil rates in the 2nd half of 2014 the country is on the verge of financial collapse. Brent crude, which is $ 100 beginning cost 45 dollars per barrel, largely hit the economy powers: the Bolivar fell even on the black market.

Solving problems in the oil market, Venezuelan President discussed with the Russian leader. Vladimir Putin and Nicolas Maduro has agreed to a new price of oil. Venezuelan favorite said they agreed on a series of initiatives aimed at stabilizing the market. According to his statement, the leaders decided that the cost of a barrel of oil should not be less than 70 dollars.

sections: Economics, World News